Mitsubishi UFJ Trust & Banking Corp Sells 7,464 Shares of Commercial Metals (NYSE:CMC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Commercial Metals (NYSE:CMCGet Rating) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,184 shares of the basic materials company’s stock after selling 7,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Commercial Metals were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMC. Truist Financial Corp boosted its position in shares of Commercial Metals by 6.2% during the 1st quarter. Truist Financial Corp now owns 8,266 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 481 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Commercial Metals by 46.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 7,386 shares of the basic materials company’s stock worth $307,000 after acquiring an additional 2,336 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Commercial Metals by 2.7% in the first quarter. Mutual of America Capital Management LLC now owns 110,780 shares of the basic materials company’s stock worth $4,611,000 after acquiring an additional 2,917 shares in the last quarter. Arizona State Retirement System boosted its holdings in Commercial Metals by 1.3% in the first quarter. Arizona State Retirement System now owns 32,869 shares of the basic materials company’s stock worth $1,368,000 after acquiring an additional 414 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Commercial Metals by 176.2% in the first quarter. Envestnet Asset Management Inc. now owns 127,130 shares of the basic materials company’s stock worth $5,291,000 after acquiring an additional 81,103 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

Insider Activity at Commercial Metals

In related news, SVP Ty L. Garrison sold 696 shares of the stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $43.75, for a total transaction of $30,450.00. Following the completion of the sale, the senior vice president now directly owns 133,939 shares of the company’s stock, valued at $5,859,831.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commercial Metals news, SVP Ty L. Garrison sold 6,900 shares of the stock in a transaction on Monday, October 31st. The stock was 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 directly owns 124,508 shares of the company’s stock, valued at $5,697,486.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ty L. Garrison sold 696 shares of the 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 transaction, the senior vice president now directly owns 133,939 shares of the company’s stock, valued at $5,859,831.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,900 shares of company stock valued at $973,138. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMC. BMO Capital Markets increased their price target on Commercial Metals from $37.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, October 14th. Citigroup increased their price target on Commercial Metals from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, October 14th. KeyCorp increased their price objective on Commercial Metals from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, October 17th. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lowered their price objective on Commercial Metals from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.13.

Commercial Metals Stock Performance

Shares of CMC opened at $47.42 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.67 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 4.76 and a beta of 1.31. The stock has a 50 day moving average of $41.88 and a 200 day moving average of $39.63. Commercial Metals has a 12 month low of $30.59 and a 12 month high of $49.41.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Commercial Metals’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, October 26th. Commercial Metals’s dividend payout ratio (DPR) is presently 6.43%.

About Commercial Metals

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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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