IFP Advisors Inc Cuts Stock Position in Commercial Metals Company $CMC

IFP Advisors Inc trimmed its position in shares of Commercial Metals Company (NYSE:CMC) by 25.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,565 shares of the basic materials company’s stock after selling 15,369 shares during the quarter. IFP Advisors Inc’s holdings in Commercial Metals were worth $2,614,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of Commercial Metals in the third quarter valued at approximately $25,000. Rothschild Investment LLC lifted its holdings in Commercial Metals by 169.6% during the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after buying an additional 324 shares in the last quarter. Spire Wealth Management lifted its holdings in Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after buying an additional 183 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Commercial Metals in the 3rd quarter valued at approximately $73,000. Finally, EverSource Wealth Advisors LLC boosted its position in Commercial Metals by 84.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after buying an additional 708 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMC has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $84.00 price objective on shares of Commercial Metals in a research report on Tuesday, December 30th. Zacks Research lowered Commercial Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. Finally, Citigroup increased their price target on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.80.

Insider Buying and Selling at Commercial Metals

In other news, Director Dennis V. Arriola purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the completion of the purchase, the director directly owned 9,238 shares in the company, valued at $689,986.22. The trade was a 27.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer J. Durbin sold 25,050 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares in the company, valued at $4,228,813.60. This represents a 32.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is owned by company insiders.

Commercial Metals Stock Performance

Shares of CMC stock opened at $60.15 on Friday. The company has a market cap of $6.67 billion, a P/E ratio of 15.50, a PEG ratio of 0.33 and a beta of 1.47. The firm has a fifty day moving average price of $73.91 and a 200 day moving average price of $66.40. The company has a current ratio of 4.47, a quick ratio of 3.70 and a debt-to-equity ratio of 0.77. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $84.87.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Sell-side analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, January 16th. Commercial Metals’s dividend payout ratio is 18.56%.

Commercial Metals 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.