Moran Wealth Management LLC Has $693,000 Position in Commercial Metals (NYSE:CMC)

Moran Wealth Management LLC cut its stake in Commercial Metals (NYSE:CMC) by 76.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,966 shares of the basic materials company’s stock after selling 46,406 shares during the quarter. Moran Wealth Management LLC’s holdings in Commercial Metals were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC increased its stake in Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after buying an additional 229 shares during the last quarter. Truist Financial Corp boosted its position in Commercial Metals by 3.5% in the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Commercial Metals by 10.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 254 shares during the period. Arizona State Retirement System increased its position in shares of Commercial Metals by 0.8% during the 4th quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 262 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after buying an additional 267 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 4.0 %

Shares of CMC stock opened at $44.93 on Wednesday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 2.62 and a beta of 1.17. The company’s fifty day simple moving average is $49.28 and its two-hundred day simple moving average is $53.13. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $1.49 EPS. 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 year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.60%. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMC. Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Jefferies Financial Group decreased their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, BMO Capital Markets lowered their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.83.

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.