Commercial Metals (NYSE:CMC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Commercial Metals (NYSE:CMCGet Rating) by 8.3% in the second quarter, Holdings Channel.com reports. The firm owned 101,588 shares of the basic materials company’s stock after selling 9,192 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Commercial Metals were worth $3,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMC. Envestnet Asset Management Inc. increased its stake in shares of Commercial Metals by 81.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 230,568 shares of the basic materials company’s stock worth $7,632,000 after acquiring an additional 103,438 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Commercial Metals by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 30,837 shares of the basic materials company’s stock worth $1,283,000 after buying an additional 299 shares during the last quarter. Xponance Inc. increased its holdings in shares of Commercial Metals by 7.2% during the 2nd quarter. Xponance Inc. now owns 18,904 shares of the basic materials company’s stock worth $626,000 after buying an additional 1,274 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Commercial Metals by 178.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,509,265 shares of the basic materials company’s stock valued at $62,816,000 after buying an additional 967,546 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Commercial Metals by 86.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 27,773 shares of the basic materials company’s stock valued at $1,156,000 after acquiring an additional 12,884 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Activity

In other Commercial Metals news, SVP Ty L. Garrison sold 696 shares of the company’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $43.75, for a total transaction of $30,450.00. Following the sale, the senior vice president now owns 133,939 shares in the company, valued at approximately $5,859,831.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Ty L. Garrison sold 6,900 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $45.76, for a total transaction of $315,744.00. Following the completion of the transaction, the senior vice president now owns 124,508 shares in the company, valued at $5,697,486.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ty L. Garrison sold 696 shares of the firm’s stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $43.75, for a total value of $30,450.00. Following the completion of the sale, the senior vice president now owns 133,939 shares in the company, valued at $5,859,831.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,900 shares of company stock worth $973,138. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Monday, November 14th. KeyCorp boosted their price objective on shares of Commercial Metals from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, October 17th. The Goldman Sachs Group lowered their target price on shares of Commercial Metals from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th. BMO Capital Markets upped their price objective on shares of Commercial Metals from $37.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, October 14th. Finally, Citigroup lifted their target price on shares of Commercial Metals from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, October 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.13.

Commercial Metals Price Performance

Shares of CMC opened at $47.46 on Monday. The company has a market cap of $5.57 billion, a P/E ratio of 4.77 and a beta of 1.31. Commercial Metals has a fifty-two week low of $30.59 and a fifty-two week high of $49.41. The company has a quick ratio of 1.67, a current ratio of 2.54 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average price is $41.77 and its 200 day moving average price is $39.58.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, October 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.14. Commercial Metals’s dividend payout ratio is currently 6.43%.

Commercial Metals Profile

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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.

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

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