Commercial Metals (NYSE:CMC) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC reduced its position in shares of Commercial Metals (NYSE:CMC) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,813 shares of the basic materials company’s stock after selling 521 shares during the period. Aptus Capital Advisors LLC’s holdings in Commercial Metals were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Boston Partners lifted its holdings in Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after buying an additional 3,063,241 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Commercial Metals by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock worth $71,283,000 after acquiring an additional 18,205 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Commercial Metals by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock valued at $68,160,000 after purchasing an additional 25,816 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Commercial Metals during the 2nd quarter valued at approximately $50,132,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

CMC stock opened at $59.35 on Friday. The stock’s 50 day simple moving average is $54.47 and its 200 day simple moving average is $54.57. Commercial Metals has a 12-month low of $43.52 and a 12-month high of $63.40. The firm has a market cap of $6.76 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.61 and a beta of 1.14. 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 (NYSE:CMC) last issued its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, equities research analysts predict that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. Commercial Metals’s payout ratio is currently 17.39%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CMC shares. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Company 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.