Boston Partners lowered its stake in Commercial Metals (NYSE:CMC – Get Rating) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,518 shares of the basic materials company’s stock after selling 502 shares during the period. Boston Partners’ holdings in Commercial Metals were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Commercial Metals by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock valued at $550,481,000 after purchasing an additional 142,062 shares in the last quarter. FMR LLC raised its position in Commercial Metals by 5.1% in the 2nd quarter. FMR LLC now owns 10,124,695 shares of the basic materials company’s stock valued at $335,128,000 after purchasing an additional 493,455 shares in the last quarter. State Street Corp raised its position in shares of Commercial Metals by 22.3% during the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after acquiring an additional 1,367,997 shares in the last quarter. Berkley W R Corp raised its position in shares of Commercial Metals by 14.4% during the 2nd quarter. Berkley W R Corp now owns 2,869,104 shares of the basic materials company’s stock worth $94,967,000 after acquiring an additional 361,600 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Commercial Metals by 21.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,831,408 shares of the basic materials company’s stock worth $60,620,000 after acquiring an additional 322,143 shares in the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.
Insider Buying and Selling at Commercial Metals
In other Commercial Metals news, CEO Barbara Smith sold 150,000 shares of Commercial Metals stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $48.11, for a total value of $7,216,500.00. Following the transaction, the chief executive officer now directly owns 227,651 shares in the company, valued at approximately $10,952,289.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Commercial Metals Trading Up 0.3 %
NYSE:CMC opened at $56.76 on Wednesday. The stock’s 50 day moving average price is $51.95 and its 200 day moving average price is $45.86. The company has a market capitalization of $6.66 billion, a PE ratio of 5.53 and a beta of 1.29. The company has a quick ratio of 1.97, a current ratio of 2.99 and a debt-to-equity ratio of 0.30. Commercial Metals has a 52-week low of $31.47 and a 52-week high of $58.09.
Commercial Metals (NYSE:CMC – Get Rating) last announced its earnings results on Monday, January 9th. The basic materials company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.25. Commercial Metals had a return on equity of 33.19% and a net margin of 13.61%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, research analysts anticipate that Commercial Metals will post 7.47 EPS for the current year.
Commercial Metals Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 2nd. Shareholders of record on Thursday, January 19th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, January 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Commercial Metals’s dividend payout ratio (DPR) is currently 6.24%.
About Commercial Metals
Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.
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