Bank of Montreal Can Sells 949 Shares of Commercial Metals Company $CMC

Bank of Montreal Can trimmed its holdings in shares of Commercial Metals Company (NYSE:CMC) by 6.2% in the second quarter, Holdings Channel.com reports. The fund owned 14,410 shares of the basic materials company’s stock after selling 949 shares during the quarter. Bank of Montreal Can’s holdings in Commercial Metals were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CMC. National Bank of Canada FI boosted its stake in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC lifted its holdings in Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 302 shares during the last quarter. UMB Bank n.a. boosted its position in Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after buying an additional 610 shares in the last quarter. Harbour Investments Inc. grew its stake in Commercial Metals by 17.5% during the second quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock worth $90,000 after buying an additional 273 shares during the last quarter. Finally, Amundi increased its holdings in shares of Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after buying an additional 291 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CMC shares. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $65.00 in a research report on Friday, October 17th. Morgan Stanley upgraded shares of Commercial Metals from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $57.50 to $68.00 in a research report on Friday, October 24th. Wells Fargo & Company raised their price target on shares of Commercial Metals from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Zacks Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.20.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson purchased 1,722 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $58.09 per share, with a total value of $100,030.98. Following the acquisition, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This represents a 34.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Commercial Metals Trading Down 1.1%

NYSE:CMC opened at $58.90 on Monday. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 77.50, a PEG ratio of 1.94 and a beta of 1.34. The business’s 50-day moving average price is $58.81 and its two-hundred day moving average price is $53.97.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business posted $0.90 EPS. Commercial Metals’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were issued a $0.18 dividend. The ex-dividend date was Thursday, October 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

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.