Mutual of America Capital Management LLC Reduces Position in Commercial Metals (NYSE:CMC)

Mutual of America Capital Management LLC lessened its position in shares of Commercial Metals (NYSE:CMC) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,303 shares of the basic materials company’s stock after selling 3,678 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Commercial Metals worth $3,618,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CMC. Advisors Preferred LLC grew its stake in shares of Commercial Metals by 114.0% in the 4th quarter. Advisors Preferred LLC now owns 60,810 shares of the basic materials company’s stock valued at $3,051,000 after purchasing an additional 32,393 shares during the last quarter. Raymond James & Associates grew its stake in shares of Commercial Metals by 23.5% in the 4th quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company’s stock valued at $5,950,000 after purchasing an additional 22,619 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Commercial Metals by 270.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 137,240 shares of the basic materials company’s stock valued at $6,918,000 after purchasing an additional 100,160 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Commercial Metals by 91.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 91,634 shares of the basic materials company’s stock valued at $4,528,000 after buying an additional 43,734 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in shares of Commercial Metals in the third quarter valued at approximately $690,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.2 %

CMC opened at $55.87 on Thursday. The business’s fifty day moving average is $55.36 and its two-hundred day moving average is $50.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 9.70 and a beta of 1.33. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Analysts anticipate that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. This is an increase from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s payout ratio is presently 12.50%.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the sale, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the sale, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lindsay L. Sloan sold 600 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now owns 12,338 shares in the company, valued at $635,653.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,089 shares of company stock worth $6,402,693. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. BMO Capital Markets lifted their price target 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. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, UBS Group assumed coverage on Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target on the stock.

Commercial Metals 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.