Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Commercial Metals Company $CMC

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Commercial Metals Company (NYSE:CMC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 13,282 shares of the basic materials company’s stock, valued at approximately $919,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC grew its stake in shares of Commercial Metals by 3.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock worth $339,000 after buying an additional 149 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Commercial Metals by 2.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after buying an additional 188 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after buying an additional 202 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Commercial Metals by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock worth $1,383,000 after buying an additional 206 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Commercial Metals by 4.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock worth $274,000 after buying an additional 213 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMC has been the subject of several analyst reports. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Wells Fargo & Company lowered their target price on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Barclays initiated coverage on shares of Commercial Metals in a report on Thursday. They issued an “equal weight” rating and a $75.00 target price for the company. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.82.

Commercial Metals Price Performance

Commercial Metals stock opened at $71.87 on Friday. The firm has a 50-day moving average price of $65.93 and a 200-day moving average price of $68.84. The firm has a market capitalization of $7.97 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. Commercial Metals Company has a 12-month low of $45.50 and a 12-month high of $84.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share 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 company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals Company will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio (DPR) is 16.04%.

Commercial Metals Company Profile

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.