Cwm LLC Purchases 336 Shares of Commercial Metals (NYSE:CMC)

Cwm LLC raised its position in shares of Commercial Metals (NYSE:CMCGet Rating) by 40.3% during the third quarter, HoldingsChannel reports. The fund owned 1,169 shares of the basic materials company’s stock after acquiring an additional 336 shares during the quarter. Cwm LLC’s holdings in Commercial Metals were worth $41,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Commercial Metals by 1.9% during the third quarter. Assenagon Asset Management S.A. now owns 39,976 shares of the basic materials company’s stock valued at $1,418,000 after purchasing an additional 746 shares during the period. Strs Ohio boosted its stake in shares of Commercial Metals by 73.4% during the third quarter. Strs Ohio now owns 22,200 shares of the basic materials company’s stock valued at $787,000 after purchasing an additional 9,400 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Commercial Metals by 100.0% during the third quarter. Handelsbanken Fonder AB now owns 13,200 shares of the basic materials company’s stock valued at $468,000 after purchasing an additional 6,600 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in shares of Commercial Metals during the third quarter valued at $61,000. Finally, Raymond James & Associates boosted its stake in shares of Commercial Metals by 69.7% during the third quarter. Raymond James & Associates now owns 86,781 shares of the basic materials company’s stock valued at $3,079,000 after purchasing an additional 35,654 shares during the period. 84.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Ty L. Garrison sold 6,900 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $45.76, for a total transaction of $315,744.00. Following the transaction, the senior vice president now owns 124,508 shares in the company, valued at $5,697,486.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Ty L. Garrison sold 6,900 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $45.76, for a total value of $315,744.00. Following the transaction, the senior vice president now owns 124,508 shares in the company, valued at approximately $5,697,486.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barbara Smith sold 150,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $48.11, for a total transaction of $7,216,500.00. Following the completion of the transaction, the chief executive officer now owns 227,651 shares in the company, valued at approximately $10,952,289.61. The disclosure for this sale can be found here. Insiders have sold a total of 162,400 shares of company stock worth $7,804,384 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Commercial Metals Stock Performance

CMC opened at $52.15 on Friday. Commercial Metals has a 52-week low of $31.47 and a 52-week high of $56.88. The company has a quick ratio of 1.97, a current ratio of 2.99 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.12 billion, a P/E ratio of 5.08 and a beta of 1.29. The firm’s 50-day moving average price is $49.60 and its 200-day moving average price is $43.37.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Thursday, January 19th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. Commercial Metals’s dividend payout ratio (DPR) is currently 6.24%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMC. KeyCorp boosted their target price on shares of Commercial Metals from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. BMO Capital Markets upped their price objective on shares of Commercial Metals from $49.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 10th. Citigroup upped their price objective on shares of Commercial Metals from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, October 14th. The Goldman Sachs Group upped their price objective on shares of Commercial Metals from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 10th. Finally, Bank of America began coverage on shares of Commercial Metals in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.78.

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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