Diversified Trust Co Sells 7,760 Shares of Commercial Metals (NYSE:CMC)

Diversified Trust Co trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 31.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,230 shares of the basic materials company’s stock after selling 7,760 shares during the quarter. Diversified Trust Co’s holdings in Commercial Metals were worth $855,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of CMC. nVerses Capital LLC bought a new stake in Commercial Metals during the 3rd quarter worth approximately $66,000. GAMMA Investing LLC increased its stake in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares in the last quarter. KBC Group NV increased its stake in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares in the last quarter. Highland Capital Management LLC bought a new stake in Commercial Metals during the 3rd quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. boosted its position in Commercial Metals by 29.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 870 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. UBS Group reaffirmed a “sell” rating and set a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. BMO Capital Markets reduced their price target 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. Finally, Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.17.

Commercial Metals Trading Down 2.5 %

NYSE CMC opened at $47.65 on Friday. The company has a market cap of $5.43 billion, a PE ratio of 11.51, a PEG ratio of 2.74 and a beta of 1.19. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $47.41 and a 12 month high of $64.53. The stock has a 50 day moving average of $56.61 and a 200-day moving average of $54.87.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s dividend payout ratio is 17.39%.

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.