Metals

Dupont Capital Management Corp Decreases Holdings in Commercial Metals (NYSE:CMC)

Dupont Capital Management Corp trimmed its stake in shares of Commercial Metals (NYSE:CMCGet Rating) by 78.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,681 shares of the basic materials company’s stock after selling 10,010 shares during the period. Dupont Capital Management Corp’s holdings in Commercial Metals were worth $95,000 at the end of the most recent quarter.

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Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in Commercial Metals during the second quarter valued at $30,000. Baldwin Brothers LLC MA purchased a new position in Commercial Metals during the second quarter valued at $33,000. Geneos Wealth Management Inc. lifted its holdings in Commercial Metals by 920.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 920 shares in the last quarter. National Bank of Canada FI raised its position in shares of Commercial Metals by 32.8% in the second quarter. National Bank of Canada FI now owns 1,062 shares of the basic materials company’s stock valued at $36,000 after buying an additional 262 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Commercial Metals in the second quarter valued at about $35,000. 84.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commercial Metals

In related news, CEO Barbara Smith sold 5,500 shares of Commercial Metals stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $49.48, for a total value of $272,140.00. Following the completion of the transaction, the chief executive officer now directly owns 503,285 shares in the company, valued at $24,902,541.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Barbara Smith sold 5,500 shares of Commercial Metals stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $49.48, for a total value of $272,140.00. Following the completion of the transaction, the chief executive officer now directly owns 503,285 shares in the company, valued at $24,902,541.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ty L. Garrison sold 6,900 shares of Commercial Metals stock in a transaction on Monday, October 31st. The shares were sold at an average price of $45.76, for a total value of $315,744.00. Following the completion of the transaction, the senior vice president now owns 124,508 shares of the company’s stock, valued at $5,697,486.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,400 shares of company stock worth $7,804,384. Company insiders own 1.20% of the company’s stock.

Commercial Metals Trading Down 4.4 %

Shares of NYSE CMC opened at $52.73 on Thursday. Commercial Metals has a twelve month low of $31.47 and a twelve month high of $56.88. The company has a current ratio of 2.99, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $49.39 and a 200-day simple moving average of $43.19. The stock has a market capitalization of $6.19 billion, a PE ratio of 5.14 and a beta of 1.29.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Thursday, January 19th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, January 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. Commercial Metals’s payout ratio is presently 6.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Wednesday. KeyCorp increased their target price on shares of Commercial Metals from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. Bank of America started coverage on shares of Commercial Metals in a report on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Commercial Metals from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 10th. Finally, BMO Capital Markets upped their price objective on shares of Commercial Metals from $49.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.78.

Commercial Metals Company Profile

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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