Candriam S.C.A. Invests $2.05 Million in Commercial Metals Company $CMC

Candriam S.C.A. acquired a new stake in shares of Commercial Metals Company (NYSE:CMC) during the 1st quarter, Holdings Channel reports. The fund acquired 33,332 shares of the basic materials company’s stock, valued at approximately $2,048,000.

A number of other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Commercial Metals by 1.4% in the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after acquiring an additional 1,219 shares during the period. Amundi lifted its holdings in Commercial Metals by 13.3% in the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 291 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Commercial Metals by 614.9% in the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after purchasing an additional 10,121 shares during the period. Goldman Sachs Group Inc. grew its holdings in Commercial Metals by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after buying an additional 56,875 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Commercial Metals by 1.8% during the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after buying an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CMC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a report on Friday, May 22nd. BMO Capital Markets cut their target price on shares of Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a research note on Monday, June 29th. Citigroup cut their price objective on Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings raised Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company lifted their target price on Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and an average price target of $79.45.

Commercial Metals Trading Up 3.9%

CMC opened at $66.14 on Wednesday. The stock has a 50-day moving average of $70.75 and a 200 day moving average of $70.67. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 12 month low of $49.66 and a 12 month high of $84.87. The firm has a market cap of $7.32 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.37 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. As a group, research analysts forecast that Commercial Metals Company will post 6.63 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, July 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, July 6th. Commercial Metals’s dividend payout ratio is presently 15.07%.

Insider Transactions at Commercial Metals

In other news, CEO Peter R. Matt acquired 8,230 shares of the company’s stock in a transaction on Friday, July 10th. The stock was bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the purchase, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

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.