Skandinaviska Enskilda Banken AB publ Has $10.90 Million Position in Commercial Metals (NYSE:CMC)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Commercial Metals (NYSE:CMCFree Report) by 10.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 220,502 shares of the basic materials company’s stock after buying an additional 21,502 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.19% of Commercial Metals worth $10,895,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Alberta Investment Management Corp raised its position in shares of Commercial Metals by 19.5% during the second quarter. Alberta Investment Management Corp now owns 50,658 shares of the basic materials company’s stock valued at $2,668,000 after buying an additional 8,253 shares during the last quarter. Hennessy Advisors Inc. increased its stake in Commercial Metals by 35.0% in the third quarter. Hennessy Advisors Inc. now owns 410,000 shares of the basic materials company’s stock valued at $20,258,000 after acquiring an additional 106,200 shares during the period. Wealthspire Advisors LLC bought a new stake in Commercial Metals in the third quarter valued at about $825,000. Concentric Capital Strategies LP bought a new stake in Commercial Metals in the second quarter valued at about $6,757,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Commercial Metals by 411.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,602 shares of the basic materials company’s stock valued at $1,364,000 after acquiring an additional 22,210 shares during the period. Institutional investors and hedge funds own 82.64% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total transaction of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at $635,653.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total transaction of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at $635,653.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Barbara Smith sold 142,806 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 213,379 shares in the company, valued at $10,645,478.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,885 shares of company stock valued at $14,519,506. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Commercial Metals from $50.00 to $52.00 and gave the company a “market perform” rating in a research note on Tuesday, January 9th. UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Commercial Metals from $56.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and an average price target of $56.25.

Read Our Latest Analysis on Commercial Metals

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $54.11 on Friday. The company has a current ratio of 4.12, a quick ratio of 2.81 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 8.27 and a beta of 1.32. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $58.06. The firm’s 50-day moving average price is $49.79 and its two-hundred day moving average price is $49.64.

Commercial Metals (NYSE:CMCGet Free Report) last issued its quarterly earnings data on Monday, January 8th. The basic materials company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Commercial Metals had a net margin of 9.03% and a return on equity of 19.89%. On average, equities analysts predict that Commercial Metals will post 5.16 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th were paid 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 1.18%. Commercial Metals’s dividend payout ratio is 9.79%.

About Commercial Metals

(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.

Further Reading

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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