Commercial Metals (NYSE:CMC) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its position in Commercial Metals (NYSE:CMC) by 14.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,152,096 shares of the basic materials company’s stock after selling 189,916 shares during the period. Goldman Sachs Group Inc.’s holdings in Commercial Metals were worth $57,651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $94,722,000. Victory Capital Management Inc. raised its stake in Commercial Metals by 241.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock worth $90,564,000 after purchasing an additional 1,279,617 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Commercial Metals by 26.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after acquiring an additional 527,709 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Commercial Metals by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock valued at $615,159,000 after purchasing an additional 487,792 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Commercial Metals by 59.1% in the fourth quarter. First Trust Advisors LP now owns 617,188 shares of the basic materials company’s stock valued at $30,884,000 after buying an additional 229,266 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CMC shares. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. BMO Capital Markets increased their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

Commercial Metals Price Performance

Shares of CMC opened at $50.75 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81. The stock has a market cap of $5.87 billion, a PE ratio of 8.81 and a beta of 1.27. The firm has a fifty day moving average price of $55.10 and a 200 day moving average price of $53.22.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Commercial Metals will post 4.85 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Commercial Metals Profile

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.