Commercial Metals Company $CMC Shares Sold by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors cut its position in shares of Commercial Metals Company (NYSE:CMC) by 50.9% during the 3rd quarter, Holdings Channel reports. The firm owned 8,000 shares of the basic materials company’s stock after selling 8,299 shares during the period. Atlas Private Wealth Advisors’ holdings in Commercial Metals were worth $458,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Commercial Metals during the second quarter valued at about $70,402,000. Vaughan Nelson Investment Management L.P. acquired a new position in Commercial Metals in the 3rd quarter worth approximately $54,394,000. Encompass Capital Advisors LLC acquired a new stake in Commercial Metals during the 2nd quarter valued at $34,225,000. Thomist Capital Management LP acquired a new stake in shares of Commercial Metals in the second quarter worth $14,950,000. Finally, Franklin Resources Inc. grew its holdings in shares of Commercial Metals by 10.0% during the second quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock valued at $156,215,000 after buying an additional 290,256 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, Director Dennis V. Arriola acquired 2,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was purchased at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the completion of the transaction, the director directly owned 9,238 shares of the company’s stock, valued at approximately $689,986.22. The trade was a 27.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $76.85 on Friday. The firm’s 50 day simple moving average is $70.79 and its 200 day simple moving average is $61.87. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $79.61. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 0.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.72 annualized dividend and a yield of 0.9%. Commercial Metals’s dividend payout ratio (DPR) is currently 18.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $64.00 to $78.00 in a research note on Friday, December 5th. UBS Group reissued a “neutral” rating on shares of Commercial Metals in a research report on Monday, October 27th. Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the company a “buy” rating in a research report on Thursday, January 8th. Citigroup increased their target price on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Morgan Stanley lifted their price target on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.