Koshinski Asset Management Inc. Decreases Stake in Commercial Metals (NYSE:CMC)

Koshinski Asset Management Inc. decreased its holdings in Commercial Metals (NYSE:CMC) by 14.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,871 shares of the basic materials company’s stock after selling 997 shares during the period. Koshinski Asset Management Inc.’s holdings in Commercial Metals were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Dallas Securities Inc. raised its stake in shares of Commercial Metals by 0.8% in the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after acquiring an additional 185 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Commercial Metals by 0.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after purchasing an additional 187 shares during the period. Congress Asset Management Co. MA lifted its stake in shares of Commercial Metals by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 67,943 shares of the basic materials company’s stock worth $3,400,000 after purchasing an additional 251 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Commercial Metals by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock worth $749,000 after buying an additional 276 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Commercial Metals by 21.9% in the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after buying an additional 282 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CMC. Bank of America decreased their price target on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group began coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus price target of $61.40.

Commercial Metals Trading Down 1.7 %

CMC opened at $53.08 on Wednesday. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The stock has a market capitalization of $6.10 billion, a PE ratio of 11.06 and a beta of 1.14. The firm’s fifty day moving average price is $52.83 and its 200 day moving average price is $54.47.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

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.