Commercial Metals (NYSE:CMC) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its position in shares of Commercial Metals (NYSE:CMCFree Report) by 3.1% in the 4th quarter, Holdings reports. The firm owned 215,231 shares of the basic materials company’s stock after selling 6,839 shares during the period. American International Group Inc.’s holdings in Commercial Metals were worth $10,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Commercial Metals in the fourth quarter worth about $30,000. Headlands Technologies LLC acquired a new position in Commercial Metals in the 3rd quarter worth about $51,000. Planned Solutions Inc. purchased a new position in Commercial Metals during the fourth quarter worth approximately $73,000. GAMMA Investing LLC acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $74,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $107,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Commercial Metals Stock Down 2.0 %

Shares of CMC opened at $52.38 on Friday. The stock has a 50 day moving average price of $56.04 and a 200 day moving average price of $52.75. Commercial Metals has a one year low of $39.85 and a one year 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 stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 9.09 and a beta of 1.27.

Commercial Metals (NYSE:CMCGet Free Report) last announced its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.44 EPS. Equities research analysts forecast that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were issued a $0.18 dividend. This is an increase from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Commercial Metals’s dividend payout ratio is presently 12.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMC. cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. BMO Capital Markets boosted 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.

Read Our Latest Analysis on CMC

About Commercial Metals

(Free Report)

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.

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

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