Wells Trecaso Financial Group LLC Sells 2,330 Shares of Commercial Metals (NYSE:CMC)

Wells Trecaso Financial Group LLC lessened its stake in shares of Commercial Metals (NYSE:CMC) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,440 shares of the basic materials company’s stock after selling 2,330 shares during the quarter. Commercial Metals accounts for about 1.8% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 21st largest position. Wells Trecaso Financial Group LLC owned 0.10% of Commercial Metals worth $5,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CMC. State Street Corp increased its holdings in Commercial Metals by 0.4% during the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after purchasing an additional 24,665 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after buying an additional 28,019 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Commercial Metals by 1.9% in the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after buying an additional 41,206 shares during the last quarter. Principal Financial Group Inc. lifted its position in Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after buying an additional 17,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after acquiring an additional 18,262 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $50.25 on Friday. The firm has a fifty day moving average of $54.74 and a two-hundred day moving average of $54.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 2.51 and a beta of 1.19. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $64.53.

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 analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business 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 company posted $1.49 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, equities research analysts predict that Commercial Metals will post 3.28 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be given a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. Commercial Metals’s dividend payout ratio is 64.86%.

Analyst Upgrades and Downgrades

CMC has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Morgan Stanley started coverage on Commercial Metals in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective on the stock. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.83.

About Commercial Metals

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.