Guggenheim Capital LLC Sells 10,720 Shares of Commercial Metals (NYSE:CMC)

Guggenheim Capital LLC decreased its stake in Commercial Metals (NYSE:CMC) by 59.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,346 shares of the basic materials company’s stock after selling 10,720 shares during the period. Guggenheim Capital LLC’s holdings in Commercial Metals were worth $364,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC grew its holdings in shares of 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 acquiring an additional 229 shares in the last quarter. Mariner LLC grew its holdings in shares of Commercial Metals by 0.9% in the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock valued at $1,227,000 after acquiring an additional 232 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Commercial Metals by 3.5% in the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 242 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 acquiring an additional 254 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock worth $1,655,000 after purchasing an additional 262 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 0.4 %

Shares of NYSE:CMC opened at $44.20 on Monday. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The stock has a market cap of $4.99 billion, a PE ratio of 39.82, a P/E/G ratio of 2.62 and a beta of 1.16. The business has a 50 day moving average of $45.37 and a 200-day moving average of $51.11. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. Commercial Metals’s payout ratio is 120.00%.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMC. Morgan Stanley reduced their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BMO Capital Markets reduced their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. UBS Group reduced their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.33.

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.