Avior Wealth Management LLC Cuts Stock Position in Commercial Metals (NYSE:CMC)

Avior Wealth Management LLC cut its holdings in shares of Commercial Metals (NYSE:CMC) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,700 shares of the basic materials company’s stock after selling 1,209 shares during the period. Avior Wealth Management LLC’s holdings in Commercial Metals were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMC. Norges Bank purchased a new stake in Commercial Metals during the fourth quarter worth about $114,477,000. State Street Corp increased its stake in Commercial Metals by 22.3% during the first quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after purchasing an additional 1,367,997 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Commercial Metals by 26.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock worth $123,834,000 after purchasing an additional 527,709 shares during the period. Vanguard Group Inc. increased its stake in shares of Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock worth $615,159,000 after buying an additional 487,792 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Commercial Metals by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,652,812 shares of the basic materials company’s stock worth $68,790,000 after buying an additional 409,679 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They set a “buy” rating and a $65.00 target price on the stock. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets upped their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Barbara Smith sold 60,166 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total transaction of $3,085,312.48. Following the completion of the transaction, the chairman now owns 96,019 shares in the company, valued at $4,923,854.32. The disclosure for this sale can be found here. Insiders have sold 120,089 shares of company stock worth $6,402,693 over the last three months. Insiders own 1.00% of the company’s stock.

Commercial Metals Stock Down 0.1 %

CMC stock opened at $55.21 on Friday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.59 and a beta of 1.33. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81. 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’s 50 day moving average price is $55.41 and its 200 day moving average price is $50.10.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. On average, equities research analysts anticipate that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were paid a $0.18 dividend. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s dividend payout ratio is currently 12.50%.

About Commercial Metals

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.