Federated Hermes Inc. grew its stake in shares of Commercial Metals (NYSE:CMC – Free Report) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,881 shares of the basic materials company’s stock after acquiring an additional 36,244 shares during the quarter. Federated Hermes Inc. owned about 0.17% of Commercial Metals worth $9,921,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CI Investments Inc. acquired a new position in shares of Commercial Metals in the 4th quarter valued at $32,000. Geneos Wealth Management Inc. increased its holdings in shares of Commercial Metals by 920.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 920 shares during the period. GPS Wealth Strategies Group LLC purchased a new position in shares of Commercial Metals in the first quarter worth about $49,000. CoreCap Advisors LLC acquired a new stake in shares of Commercial Metals during the fourth quarter worth about $74,000. Finally, Covestor Ltd boosted its position in Commercial Metals by 7,166.7% in the first quarter. Covestor Ltd now owns 1,962 shares of the basic materials company’s stock valued at $82,000 after buying an additional 1,935 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.
Insider Transactions at Commercial Metals
In related news, CEO Barbara Smith sold 50,000 shares of Commercial Metals stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total value of $2,532,500.00. Following the sale, the chief executive officer now owns 433,785 shares of the company’s stock, valued at approximately $21,971,210.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Commercial Metals news, SVP Ty L. Garrison sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $54.98, for a total transaction of $274,900.00. Following the completion of the sale, the senior vice president now directly owns 106,408 shares in the company, valued at approximately $5,850,311.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barbara Smith sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total value of $2,532,500.00. Following the transaction, the chief executive officer now directly owns 433,785 shares of the company’s stock, valued at approximately $21,971,210.25. The disclosure for this sale can be found here. Insiders sold a total of 174,247 shares of company stock valued at $9,332,716 in the last three months. 1.20% of the stock is currently owned by company insiders.
Commercial Metals Stock Up 0.2 %
Commercial Metals (NYSE:CMC – Get Free Report) last posted its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. On average, research analysts forecast that Commercial Metals will post 7.7 EPS for the current year.
Commercial Metals Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 30th. Commercial Metals’s payout ratio is 7.91%.
Analyst Upgrades and Downgrades
Several analysts have commented on CMC shares. StockNews.com upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. UBS Group began coverage on shares of Commercial Metals in a report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on Commercial Metals from $56.00 to $58.00 in a research note on Friday, June 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.
Read Our Latest Research Report on Commercial Metals
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. 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.
Featured Articles
- Five stocks we like better than Commercial Metals
- Which Wall Street Analysts are the Most Accurate?
- MarketBeat Week in Review – 8/7 – 8/11
- How to Use the MarketBeat Dividend Calculator
- 3 Retailers To Watch Closely Next Week
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Investing in Coffee: 3 Great Strategies to Consider
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.
