Commercial Metals Company (NYSE:CMC) Shares Acquired by LSV Asset Management

LSV Asset Management lifted its stake in Commercial Metals Company (NYSE:CMC) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,100 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the period. LSV Asset Management’s holdings in Commercial Metals were worth $11,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in Commercial Metals by 4,372.6% during the 1st quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock worth $34,944,000 after buying an additional 742,503 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock worth $142,139,000 after buying an additional 666,886 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Commercial Metals by 15,350.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company’s stock worth $28,178,000 after buying an additional 564,418 shares during the last quarter. First Trust Advisors LP lifted its holdings in Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company’s stock worth $87,040,000 after buying an additional 446,317 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Commercial Metals by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company’s stock worth $86,794,000 after buying an additional 162,201 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 0.0%

NYSE:CMC opened at $50.27 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $50.55 and its 200-day simple moving average is $48.08. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The firm has a market cap of $5.63 billion, a P/E ratio of 162.17, a PEG ratio of 2.32 and a beta of 1.28.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were given a dividend of $0.18 per share. The ex-dividend date was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.4%. Commercial Metals’s payout ratio is presently 232.26%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMC. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating in a report on Friday, June 20th. JPMorgan Chase & Co. boosted their target price on Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 14th. UBS Group reissued a “neutral” rating on shares of Commercial Metals in a report on Friday, June 20th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.50.

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.