Commercial Metals (NYSE:CMC) Stock Holdings Lowered by Avior Wealth Management LLC

Avior Wealth Management LLC cut its position in Commercial Metals (NYSE:CMC) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the basic materials company’s stock after selling 300 shares during the quarter. Avior Wealth Management LLC’s holdings in Commercial Metals were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Commercial Metals in the third quarter valued at approximately $66,000. Archer Investment Corp bought a new stake in Commercial Metals during the 2nd quarter valued at $77,000. GAMMA Investing LLC boosted its position in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Commercial Metals in the second quarter worth $129,000. Finally, KBC Group NV increased its holdings in shares of Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 425 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CMC. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. Finally, BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.25.

Commercial Metals Stock Up 1.3 %

NYSE CMC opened at $61.22 on Friday. Commercial Metals has a 12 month low of $43.52 and a 12 month high of $63.40. The company has a market capitalization of $6.97 billion, a P/E ratio of 14.79, a PEG ratio of 2.56 and a beta of 1.14. The company’s 50 day simple moving average is $55.52 and its 200 day simple moving average is $54.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Equities research analysts expect that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.18%. Commercial Metals’s payout ratio is presently 17.39%.

Commercial Metals Company 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.