Thomist Capital Management LP Invests $14.95 Million in Commercial Metals Company $CMC

Thomist Capital Management LP bought a new stake in Commercial Metals Company (NYSE:CMC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 298,871 shares of the basic materials company’s stock, valued at approximately $14,950,000. Commercial Metals comprises about 4.6% of Thomist Capital Management LP’s holdings, making the stock its 7th largest position. Thomist Capital Management LP owned approximately 0.27% of Commercial Metals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Paulson Wealth Management Inc. boosted its holdings in shares of Commercial Metals by 5.2% in the 2nd quarter. Paulson Wealth Management Inc. now owns 4,674 shares of the basic materials company’s stock valued at $229,000 after acquiring an additional 229 shares during the last quarter. National Bank of Canada FI grew its position in 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 period. Atlas Private Wealth Advisors lifted its holdings in shares of Commercial Metals by 1.6% in the 2nd quarter. Atlas Private Wealth Advisors now owns 16,299 shares of the basic materials company’s stock valued at $797,000 after buying an additional 249 shares during the period. Fulton Bank N.A. boosted its stake in shares of Commercial Metals by 3.2% in the second quarter. Fulton Bank N.A. now owns 8,309 shares of the basic materials company’s stock worth $406,000 after buying an additional 261 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in Commercial Metals by 17.5% during the second quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 273 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Commercial Metals stock opened at $63.60 on Wednesday. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 83.68, a PEG ratio of 0.43 and a beta of 1.49. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.56. The company has a fifty day simple moving average of $59.42 and a 200-day simple moving average of $55.18. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. Commercial Metals’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Commercial Metals’s payout ratio is 94.74%.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 1,722 shares of Commercial Metals stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the acquisition, the director directly owned 6,722 shares in the company, valued at approximately $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

CMC has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, October 8th. Jefferies Financial Group set a $70.00 price objective on shares of Commercial Metals and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $65.00 in a research report on Friday, October 17th. The Goldman Sachs Group upped their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley upgraded Commercial Metals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $57.50 to $68.00 in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.20.

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.