Commercial Metals (NYSE:CMC) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Commercial Metals (NYSE:CMC – Free Report) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,182,690 shares of the basic materials company’s stock after acquiring an additional 32,217 shares during the quarter. American Century Companies Inc.’s holdings in Commercial Metals were worth $58,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HM Payson & Co. acquired a new position in Commercial Metals during the third quarter worth about $25,000. Point72 Asset Management L.P. acquired a new position in Commercial Metals during the second quarter worth about $30,000. Quarry LP acquired a new position in Commercial Metals during the first quarter worth about $30,000. Sunbelt Securities Inc. acquired a new position in Commercial Metals during the first quarter worth about $30,000. Finally, VisionPoint Advisory Group LLC acquired a new position in Commercial Metals during the second quarter worth about $31,000. 82.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Barbara Smith sold 142,806 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $49.89, for a total transaction of $7,124,591.34. Following the completion of the sale, the chairman now directly owns 213,379 shares of the company’s stock, valued at approximately $10,645,478.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Commercial Metals news, Chairman Barbara Smith sold 142,806 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $49.89, for a total transaction of $7,124,591.34. Following the completion of the transaction, the chairman now directly owns 213,379 shares of the company’s stock, valued at approximately $10,645,478.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lindsay L. Sloan sold 600 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $51.52, for a total transaction of $30,912.00. Following the transaction, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at $635,653.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 284,385 shares of company stock valued at $14,317,006. Company insiders own 1.00% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC opened at $53.92 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.81 and a current ratio of 4.12. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 8.24 and a beta of 1.32. The company’s 50 day simple moving average is $52.42 and its 200 day simple moving average is $49.35. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $58.06.

Commercial Metals (NYSE:CMC – Get Free Report) last posted its quarterly earnings results on Monday, January 8th. The basic materials company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Commercial Metals had a net margin of 9.03% and a return on equity of 19.89%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts predict that Commercial Metals will post 5.16 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, January 17th. Commercial Metals’s dividend payout ratio is presently 9.79%.

Analysts Set New Price Targets

CMC has been the topic of several research reports. BMO Capital Markets increased their price target on shares of Commercial Metals from $50.00 to $52.00 and gave the company a “market perform” rating in a research report on Tuesday, January 9th. UBS Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and an average target price of $56.25.

Check Out Our Latest Report on CMC

Commercial Metals Company Profile

(Free Report)

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.