Commercial Metals (NYSE:CMC) Stock Position Reduced by Fulton Bank N.A.

Fulton Bank N.A. trimmed its position in Commercial Metals (NYSE:CMC) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,204 shares of the basic materials company’s stock after selling 571 shares during the quarter. Fulton Bank N.A.’s holdings in Commercial Metals were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CMC. SummerHaven Investment Management LLC raised its holdings in shares of Commercial Metals by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,154 shares of the basic materials company’s stock worth $658,000 after purchasing an additional 228 shares during the period. Congress Asset Management Co. MA raised its stake in 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 acquiring an additional 251 shares during the period. Diversified Trust Co lifted its holdings in Commercial Metals by 1.2% in the third quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock worth $1,176,000 after acquiring an additional 292 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in Commercial Metals by 7.4% in the fourth quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 352 shares during the period. Finally, Green Alpha Advisors LLC boosted its stake in Commercial Metals by 2.0% in the first quarter. Green Alpha Advisors LLC now owns 23,626 shares of the basic materials company’s stock valued at $1,388,000 after acquiring an additional 459 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction that occurred on 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 approximately $2,095,024.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $54.42 on Friday. The firm’s 50 day moving average is $54.72 and its two-hundred day moving average is $53.28. The firm has a market capitalization of $6.30 billion, a P/E ratio of 9.45 and a beta of 1.27. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm earned $2.02 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. Analysts anticipate that Commercial Metals will post 4.85 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Monday, July 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, July 1st. Commercial Metals’s payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMC. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets raised their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd.

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.