Diversified Trust Co Cuts Stock Position in Commercial Metals (NYSE:CMC)

Diversified Trust Co trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,385 shares of the basic materials company’s stock after selling 3,095 shares during the quarter. Diversified Trust Co’s holdings in Commercial Metals were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMC. Rise Advisors LLC acquired a new position in Commercial Metals during the first quarter worth $28,000. Daiwa Securities Group Inc. acquired a new position in shares of Commercial Metals during the 4th quarter worth about $30,000. Planned Solutions Inc. purchased a new position in Commercial Metals in the 4th quarter valued at about $73,000. GAMMA Investing LLC acquired a new stake in Commercial Metals in the 4th quarter worth about $74,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Commercial Metals during the 4th quarter worth approximately $107,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CMC. BMO Capital Markets raised their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Finally, Bank of America dropped their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.50.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $53.53 on Tuesday. The business’s 50 day moving average price is $54.56 and its 200 day moving average price is $53.71. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 11.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm earned $2.02 EPS. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, research analysts predict that Commercial Metals will post 4.71 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Commercial Metals’s dividend payout ratio (DPR) is 15.00%.

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.