Intech Investment Management LLC Purchases 94,714 Shares of Commercial Metals Company $CMC

Intech Investment Management LLC grew its position in Commercial Metals Company (NYSE:CMC) by 195.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,076 shares of the basic materials company’s stock after acquiring an additional 94,714 shares during the period. Intech Investment Management LLC owned 0.13% of Commercial Metals worth $9,904,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Arista Wealth Management LLC bought a new position in shares of Commercial Metals in the fourth quarter valued at approximately $346,000. Geode Capital Management LLC raised its position in Commercial Metals by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company’s stock worth $202,626,000 after purchasing an additional 86,749 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its position in Commercial Metals by 340.5% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 32,520 shares of the basic materials company’s stock worth $2,251,000 after purchasing an additional 25,137 shares during the last quarter. Clearstead Advisors LLC raised its position in Commercial Metals by 18.7% in the 4th quarter. Clearstead Advisors LLC now owns 7,195 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Genus Capital Management Inc. bought a new position in Commercial Metals in the 4th quarter worth approximately $4,531,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

CMC stock opened at $76.21 on Friday. The business’s 50-day moving average price is $67.27 and its two-hundred day moving average price is $69.45. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. The firm has a market cap of $8.45 billion, a PE ratio of 16.97, a P/E/G ratio of 0.46 and a beta of 1.49. Commercial Metals Company has a 1-year low of $45.50 and a 1-year high of $84.87.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, research analysts forecast that Commercial Metals Company will post 6.45 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Commercial Metals’s payout ratio is presently 16.04%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CMC shares. Wall Street Zen cut shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Barclays started coverage on shares of Commercial Metals in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price objective for the company. KeyCorp started coverage on shares of Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Wells Fargo & Company dropped their price objective on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.10.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.