Diversified Trust Co Sells 7,760 Shares of Commercial Metals (NYSE:CMC)

Diversified Trust Co reduced its position in Commercial Metals (NYSE:CMC) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,230 shares of the basic materials company’s stock after selling 7,760 shares during the quarter. Diversified Trust Co’s holdings in Commercial Metals were worth $855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Commercial Metals during the third quarter valued at $66,000. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 944 shares during the period. KBC Group NV lifted 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 acquiring an additional 425 shares during the period. Highland Capital Management LLC bought a new position in shares of Commercial Metals during the third quarter valued at $206,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Commercial Metals by 29.7% during the third quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 870 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $47.65 on Friday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.74 and a beta of 1.19. Commercial Metals has a 1-year low of $47.41 and a 1-year high of $64.53. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $56.61 and a two-hundred day moving average price of $54.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Commercial Metals’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 EPS. Equities analysts predict that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMC. BMO Capital Markets cut their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. UBS Group reissued a “sell” rating and set a $56.00 price objective (down from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.17.

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.