Inspire Investing LLC Sells 1,547 Shares of Commercial Metals (NYSE:CMC)

Inspire Investing LLC lowered its holdings in Commercial Metals (NYSE:CMC) by 20.2% in the first quarter, Holdings Channel reports. The firm owned 6,108 shares of the basic materials company’s stock after selling 1,547 shares during the quarter. Inspire Investing LLC’s holdings in Commercial Metals were worth $359,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Commercial Metals in the first quarter valued at $28,000. Daiwa Securities Group Inc. bought a new position in shares of Commercial Metals in the 4th quarter valued at about $30,000. SYSTM Wealth Solutions LLC bought a new position in shares of Commercial Metals in the 1st quarter valued at about $44,000. GAMMA Investing LLC bought a new position in shares of Commercial Metals in the 4th quarter valued at about $74,000. Finally, Planned Solutions Inc. bought a new position in shares of Commercial Metals in the 4th quarter valued at about $73,000. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. BMO Capital Markets lifted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Finally, Bank of America reduced their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.50.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $57.61 on Wednesday. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $59.81. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $54.38 and a two-hundred day simple moving average of $54.04. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 12.15 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $2.02 EPS. The business’s revenue was down 11.4% on a year-over-year basis. Analysts forecast that Commercial Metals will post 4.71 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, July 1st. Commercial Metals’s dividend payout ratio (DPR) is 15.00%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.