Commercial Metals (NYSE:CMC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 61.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,882 shares of the basic materials company’s stock after selling 38,924 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Commercial Metals were worth $1,225,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CMC. Atria Investments Inc acquired a new stake in Commercial Metals during the third quarter worth about $290,000. KBC Group NV grew its holdings in shares of Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 425 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Commercial Metals during the 3rd quarter worth approximately $1,008,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Commercial Metals in the 3rd quarter worth approximately $5,662,000. Finally, Moran Wealth Management LLC boosted its position in Commercial Metals by 336.7% during the 3rd quarter. Moran Wealth Management LLC now owns 60,372 shares of the basic materials company’s stock valued at $3,318,000 after purchasing an additional 46,547 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Down 0.4 %

Shares of NYSE:CMC opened at $46.14 on Tuesday. The company has a 50 day moving average of $48.94 and a 200-day moving average of $52.90. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.24 billion, a P/E ratio of 41.56, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s payout ratio is currently 64.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMC. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Morgan Stanley decreased their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets reduced their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.83.

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.