First Hawaiian Bank Sells 2,990 Shares of Commercial Metals (NYSE:CMC)

First Hawaiian Bank reduced its stake in shares of Commercial Metals (NYSE:CMCGet Rating) by 19.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,150 shares of the basic materials company’s stock after selling 2,990 shares during the quarter. First Hawaiian Bank’s holdings in Commercial Metals were worth $506,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CMC. State of Michigan Retirement System lifted its holdings in shares of Commercial Metals by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 30,538 shares of the basic materials company’s stock valued at $1,108,000 after purchasing an additional 300 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Commercial Metals by 0.6% during the fourth quarter. Bridgewater Associates LP now owns 57,948 shares of the basic materials company’s stock valued at $2,103,000 after purchasing an additional 319 shares during the last quarter. Oak Family Advisors LLC lifted its holdings in shares of Commercial Metals by 2.8% during the fourth quarter. Oak Family Advisors LLC now owns 11,830 shares of the basic materials company’s stock valued at $429,000 after purchasing an additional 325 shares during the last quarter. Exane Derivatives lifted its holdings in shares of Commercial Metals by 4.5% during the fourth quarter. Exane Derivatives now owns 7,761 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 334 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in Commercial Metals by 3.7% in the 4th quarter. Profund Advisors LLC now owns 12,376 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 445 shares during the last quarter. 85.01% of the stock is currently owned by hedge funds and other institutional investors.

In other Commercial Metals news, CEO Barbara Smith sold 4,101 shares of the stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $43.45, for a total transaction of $178,188.45. Following the completion of the transaction, the chief executive officer now owns 533,785 shares of the company’s stock, valued at approximately $23,192,958.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Mcpherson acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, April 26th. The shares were purchased at an average price of $40.55 per share, with a total value of $202,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $202,750. The disclosure for this purchase can be found here. Insiders sold a total of 38,582 shares of company stock valued at $1,718,106 in the last ninety days. 1.20% of the stock is currently owned by insiders.

CMC has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, March 18th. Citigroup cut their target price on shares of Commercial Metals from $44.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, June 17th. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group lifted their target price on shares of Commercial Metals from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, June 17th. Finally, KeyCorp lifted their target price on shares of Commercial Metals from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and a consensus target price of $42.80.

Shares of CMC stock opened at $34.31 on Thursday. Commercial Metals has a 1 year low of $28.76 and a 1 year high of $46.68. The firm has a fifty day moving average price of $39.53 and a 200-day moving average price of $38.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.48 and a quick ratio of 1.51. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 3.90 and a beta of 1.14.

Commercial Metals (NYSE:CMCGet Rating) last issued its quarterly earnings data on Thursday, June 16th. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $1.14. Commercial Metals had a net margin of 12.66% and a return on equity of 31.92%. During the same quarter in the prior year, the business posted $1.04 earnings per share. Equities research analysts expect that Commercial Metals will post 7.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Investors of record on Wednesday, June 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, June 28th. Commercial Metals’s dividend payout ratio is currently 6.36%.

Commercial Metals Company Profile (Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

Further Reading

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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