Commercial Metals Company $CMC Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Commercial Metals Company (NYSE:CMC) by 10.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,303 shares of the basic materials company’s stock after buying an additional 6,309 shares during the quarter. Intech Investment Management LLC owned 0.06% of Commercial Metals worth $3,145,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in shares of Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after buying an additional 511 shares during the period. Signaturefd LLC increased its holdings in shares of Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after buying an additional 302 shares during the last quarter. UMB Bank n.a. raised its position in Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 610 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Commercial Metals by 17.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock valued at $90,000 after buying an additional 273 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Down 1.8%

Commercial Metals stock opened at $57.78 on Wednesday. The company has a market capitalization of $6.41 billion, a P/E ratio of 76.02, a PEG ratio of 1.94 and a beta of 1.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The stock has a 50-day simple moving average of $58.78 and a 200-day simple moving average of $54.15.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, October 30th. Commercial Metals’s dividend payout ratio is presently 94.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group set a $70.00 price target on shares of Commercial Metals and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Bank of America increased their price objective on Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Citigroup upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $60.00 to $65.00 in a research note on Friday, October 17th. Finally, The Goldman Sachs Group upped their price objective on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Commercial Metals has an average rating of “Moderate Buy” and a consensus target price of $64.20.

Insider Buying and Selling

In related news, Director John R. Mcpherson acquired 1,722 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was bought at an average cost of $58.09 per share, with a total value of $100,030.98. Following the transaction, the director owned 6,722 shares of the company’s stock, valued at $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Commercial Metals 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.