First Hawaiian Bank lessened its position in shares of Commercial Metals (NYSE:CMC – Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,770 shares of the basic materials company’s stock after selling 1,225 shares during the quarter. First Hawaiian Bank’s holdings in Commercial Metals were worth $389,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. HM Payson & Co. bought a new stake in shares of Commercial Metals in the third quarter worth about $25,000. Point72 Asset Management L.P. bought a new stake in shares of Commercial Metals in the second quarter worth about $30,000. VisionPoint Advisory Group LLC bought a new stake in shares of Commercial Metals in the second quarter worth about $31,000. Quarry LP bought a new stake in shares of Commercial Metals in the first quarter worth about $30,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Commercial Metals in the first quarter worth about $30,000. Institutional investors and hedge funds own 82.64% of the company’s stock.
Insider Buying and Selling
In related news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at approximately $635,653.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Commercial Metals news, Chairman Barbara Smith sold 57,194 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $49.94, for a total transaction of $2,856,268.36. Following the transaction, the chairman now owns 156,185 shares in the company, valued at approximately $7,799,878.90. The transaction was disclosed in a filing 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 value of $30,912.00. Following the transaction, the chief accounting officer now owns 12,338 shares in the company, valued at approximately $635,653.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,385 shares of company stock valued at $14,317,006. Insiders own 1.00% of the company’s stock.
Commercial Metals Stock Performance
CMC opened at $56.02 on Thursday. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $58.06. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 8.57 and a beta of 1.32. The business has a 50 day moving average of $52.80 and a 200-day moving average of $49.25. The company has a quick ratio of 2.81, a current ratio of 4.12 and a debt-to-equity ratio of 0.26.
Commercial Metals (NYSE:CMC – Get Free Report) last released its quarterly earnings data on Monday, January 8th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. Commercial Metals had a return on equity of 19.89% and a net margin of 9.03%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, equities research analysts expect that Commercial Metals will post 5.25 earnings per share for the current year.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Thursday, January 18th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, January 17th. This represents a $0.64 annualized dividend and a yield of 1.14%. Commercial Metals’s payout ratio is currently 9.79%.
Analyst Ratings Changes
Several brokerages have issued reports on CMC. UBS Group began coverage on Commercial Metals in a report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target for the company. BMO Capital Markets increased their price target on Commercial Metals from $50.00 to $52.00 and gave the company a “market perform” rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.25.
Read Our Latest Stock Analysis on CMC
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.
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