Wedge Capital Management L L P NC increased its stake in Commercial Metals (NYSE:CMC – Free Report) by 26.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,091 shares of the basic materials company’s stock after purchasing an additional 32,833 shares during the period. Wedge Capital Management L L P NC owned 0.13% of Commercial Metals worth $8,167,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its position in shares of Commercial Metals by 82.1% during the 1st quarter. IFP Advisors Inc now owns 60,061 shares of the basic materials company’s stock valued at $1,448,000 after acquiring an additional 27,074 shares during the last quarter. UBS Group AG boosted its stake in Commercial Metals by 91.7% in the 4th quarter. UBS Group AG now owns 64,343 shares of the basic materials company’s stock worth $3,108,000 after purchasing an additional 30,777 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Commercial Metals during the 1st quarter worth about $1,648,000. Harbor Capital Advisors Inc. boosted its stake in shares of Commercial Metals by 16.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,959 shares of the basic materials company’s stock worth $156,000 after buying an additional 425 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Commercial Metals during the 4th quarter worth about $89,000. Institutional investors own 82.64% of the company’s stock.
Insider Buying and Selling at Commercial Metals
In other Commercial Metals news, CEO Barbara Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total value of $2,532,500.00. Following the sale, the chief executive officer now owns 433,785 shares in the company, valued at $21,971,210.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $54.98, for a total transaction of $274,900.00. Following the transaction, the senior vice president now owns 106,408 shares in the company, valued at $5,850,311.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Barbara Smith sold 50,000 shares of Commercial Metals stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $50.65, for a total transaction of $2,532,500.00. Following the transaction, the chief executive officer now owns 433,785 shares in the company, valued at approximately $21,971,210.25. The disclosure for this sale can be found here. Insiders have sold 174,247 shares of company stock worth $9,332,716 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, September 4th. UBS Group assumed coverage on shares of Commercial Metals in a report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, BMO Capital Markets increased their price target on shares of Commercial Metals from $56.00 to $58.00 in a report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.83.
Read Our Latest Analysis on CMC
Commercial Metals Stock Performance
NYSE CMC opened at $49.75 on Monday. The company has a current ratio of 3.68, a quick ratio of 2.34 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.15 and a beta of 1.32. The firm’s 50 day simple moving average is $54.94 and its 200 day simple moving average is $50.06. Commercial Metals has a 1 year low of $35.22 and a 1 year high of $58.09.
Commercial Metals (NYSE:CMC – Get Free Report) last issued its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Commercial Metals had a net margin of 10.72% and a return on equity of 26.49%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business posted $2.61 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, research analysts expect that Commercial Metals will post 7.56 earnings per share for the current fiscal year.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
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Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
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While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
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ProShare Advisors LLC decreased its position in shares of Commercial Metals (NYSE:CMC – Free Report) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,727 shares of the basic materials company’s stock after selling 6,744 shares during the period. ProShare Advisors LLC’s holdings in Commercial Metals were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CMC. Natixis Advisors L.P. lifted its holdings in shares of Commercial Metals by 12.5% during the 1st quarter. Natixis Advisors L.P. now owns 12,638 shares of the basic materials company’s stock valued at $526,000 after purchasing an additional 1,402 shares during the last quarter. Bank of Montreal Can boosted its holdings in Commercial Metals by 14.9% in the first quarter. Bank of Montreal Can now owns 13,282 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 1,727 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Commercial Metals by 11.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,522 shares of the basic materials company’s stock worth $1,853,000 after acquiring an additional 4,540 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Commercial Metals during the first quarter valued at about $2,188,000. Finally, Great West Life Assurance Co. Can boosted its stake in Commercial Metals by 9.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 69,545 shares of the basic materials company’s stock worth $2,980,000 after purchasing an additional 6,259 shares in the last quarter. 82.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Barbara Smith sold 48,300 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $56.51, for a total transaction of $2,729,433.00. Following the sale, the chief executive officer now directly owns 283,785 shares of the company’s stock, valued at $16,036,690.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Ty L. Garrison sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $54.98, for a total value of $274,900.00. Following the completion of the transaction, the senior vice president now owns 106,408 shares of the company’s stock, valued at approximately $5,850,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Smith sold 48,300 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $56.51, for a total value of $2,729,433.00. Following the transaction, the chief executive officer now owns 283,785 shares in the company, valued at approximately $16,036,690.35. The disclosure for this sale can be found here. Insiders sold a total of 174,247 shares of company stock valued at $9,332,716 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CMC. UBS Group started coverage on shares of Commercial Metals in a report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target for the company. BMO Capital Markets lifted their price target on Commercial Metals from $56.00 to $58.00 in a research report on Friday, June 23rd. Finally, StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.83.
View Our Latest Research Report on Commercial Metals
Commercial Metals Price Performance
Shares of CMC opened at $49.28 on Friday. The business’s 50-day moving average is $55.05 and its two-hundred day moving average is $50.10. The company has a market capitalization of $5.76 billion, a P/E ratio of 6.09 and a beta of 1.32. Commercial Metals has a fifty-two week low of $35.22 and a fifty-two week high of $58.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.34 and a current ratio of 3.68.
Commercial Metals (NYSE:CMC – Get Free Report) last posted its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.84 by $0.18. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company earned $2.61 earnings per share. Commercial Metals’s revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts predict that Commercial Metals will post 7.56 earnings per share for the current year.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
See Also
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Commercial Metals (NYSE:CMC – Free Report) – Equities research analysts at Zacks Research upped their FY2023 earnings per share (EPS) estimates for shares of Commercial Metals in a report released on Monday, September 18th. Zacks Research analyst S. Deb now expects that the basic materials company will post earnings of $7.53 per share for the year, up from their prior forecast of $7.52. The consensus estimate for Commercial Metals’ current full-year earnings is $7.56 per share. Zacks Research also issued estimates for Commercial Metals’ Q4 2023 earnings at $1.83 EPS, Q1 2024 earnings at $1.85 EPS, Q2 2024 earnings at $1.80 EPS, Q3 2024 earnings at $1.91 EPS and FY2025 earnings at $5.74 EPS.
Other equities research analysts have also issued research reports about the company. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, September 4th. UBS Group started coverage on Commercial Metals in a report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on Commercial Metals from $56.00 to $58.00 in a report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.83.
Get Our Latest Stock Analysis on Commercial Metals
Commercial Metals Trading Down 0.2 %
NYSE CMC opened at $51.62 on Wednesday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 6.38 and a beta of 1.32. Commercial Metals has a one year low of $35.22 and a one year high of $58.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.68 and a quick ratio of 2.34. The business’s fifty day moving average is $55.29 and its 200-day moving average is $50.11.
Commercial Metals (NYSE:CMC – Get Free Report) last released its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.61 EPS.
Institutional Trading of Commercial Metals
Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Commercial Metals during the 2nd quarter valued at about $30,000. VisionPoint Advisory Group LLC bought a new stake in Commercial Metals in the 2nd quarter worth approximately $31,000. Quarry LP bought a new stake in Commercial Metals in the 1st quarter worth approximately $30,000. Sunbelt Securities Inc. bought a new stake in Commercial Metals in the 1st quarter worth approximately $30,000. Finally, CI Investments Inc. bought a new stake in Commercial Metals in the 4th quarter worth approximately $32,000. Institutional investors own 82.64% of the company’s stock.
Insider Buying and Selling at Commercial Metals
In other Commercial Metals news, CEO Barbara Smith sold 48,300 shares of Commercial Metals stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $56.51, for a total transaction of $2,729,433.00. Following the completion of the transaction, the chief executive officer now owns 283,785 shares of the company’s stock, valued at approximately $16,036,690.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $54.98, for a total transaction of $274,900.00. Following the completion of the sale, the senior vice president now owns 106,408 shares in the company, valued at approximately $5,850,311.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Barbara Smith sold 48,300 shares of Commercial Metals stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $56.51, for a total value of $2,729,433.00. Following the sale, the chief executive officer now owns 283,785 shares of the company’s stock, valued at approximately $16,036,690.35. The disclosure for this sale can be found here. Insiders sold 174,247 shares of company stock valued at $9,332,716 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.
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. 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.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven best retirement stocks and why they should be in your portfolio.
Nordea Investment Management AB reduced its position in Commercial Metals (NYSE:CMC – Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,156 shares of the basic materials company’s stock after selling 41,902 shares during the quarter. Nordea Investment Management AB owned approximately 0.22% of Commercial Metals worth $13,637,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CMC. IFP Advisors Inc grew its stake in shares of Commercial Metals by 82.1% in the 1st quarter. IFP Advisors Inc now owns 60,061 shares of the basic materials company’s stock valued at $1,448,000 after purchasing an additional 27,074 shares during the period. UBS Group AG raised its stake in Commercial Metals by 91.7% during the fourth quarter. UBS Group AG now owns 64,343 shares of the basic materials company’s stock worth $3,108,000 after acquiring an additional 30,777 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Commercial Metals during the first quarter valued at $1,648,000. Neo Ivy Capital Management acquired a new stake in shares of Commercial Metals in the 4th quarter valued at $89,000. Finally, Adalta Capital Management LLC grew its holdings in shares of Commercial Metals by 125.0% in the 4th quarter. Adalta Capital Management LLC now owns 4,500 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.
Insider Transactions at Commercial Metals
In related news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the sale, the senior vice president now owns 111,408 shares of the company’s stock, valued at approximately $5,900,167.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Commercial Metals news, SVP Ty L. Garrison sold 5,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the sale, the senior vice president now owns 111,408 shares of the company’s stock, valued at approximately $5,900,167.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Barbara Smith sold 1,700 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $56.45, for a total value of $95,965.00. Following the transaction, the chief executive officer now directly owns 332,085 shares of the company’s stock, valued at approximately $18,746,198.25. The disclosure for this sale can be found here. Insiders sold 174,247 shares of company stock valued at $9,332,716 over the last three months. Company insiders own 1.20% of the company’s stock.
Commercial Metals Trading Up 0.1 %
NYSE:CMC opened at $51.71 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.68 and a quick ratio of 2.34. The business’s 50-day simple moving average is $55.34 and its 200-day simple moving average is $50.12. Commercial Metals has a fifty-two week low of $35.22 and a fifty-two week high of $58.09. The stock has a market capitalization of $6.04 billion, a PE ratio of 6.39 and a beta of 1.32.
Commercial Metals (NYSE:CMC – Get Free Report) last released its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.18. Commercial Metals had a net margin of 10.72% and a return on equity of 26.49%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company earned $2.61 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts expect that Commercial Metals will post 7.56 earnings per share for the current fiscal year.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Monday, July 3rd were issued a $0.16 dividend. The ex-dividend date was Friday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. Commercial Metals’s dividend payout ratio (DPR) is 7.91%.
Analyst Upgrades and Downgrades
CMC has been the topic of a number of recent analyst reports. UBS Group started coverage on shares of Commercial Metals in a research report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target on the stock. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. Finally, BMO Capital Markets upped their price objective on Commercial Metals from $56.00 to $58.00 in a report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Commercial Metals has a consensus rating of “Hold” and an average price target of $57.83.
Check Out Our Latest Stock Report on CMC
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. 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.
Further Reading
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Harvest Fund Management Co. Ltd trimmed its holdings in Commercial Metals (NYSE:CMC – Free Report) by 69.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,533 shares of the basic materials company’s stock after selling 3,515 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Commercial Metals were worth $81,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CMC. Norges Bank acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $114,477,000. State Street Corp lifted its stake in shares of Commercial Metals by 22.3% in the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock valued at $312,971,000 after purchasing an additional 1,367,997 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Commercial Metals by 249.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 867,246 shares of the basic materials company’s stock valued at $11,720,000 after purchasing an additional 619,296 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Commercial Metals by 371.0% in the 1st quarter. Acadian Asset Management LLC now owns 657,415 shares of the basic materials company’s stock valued at $32,124,000 after purchasing an additional 517,834 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Commercial Metals by 33.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,652,812 shares of the basic materials company’s stock valued at $68,790,000 after purchasing an additional 409,679 shares in the last quarter. 82.64% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Commercial Metals news, CEO Barbara Smith sold 50,000 shares of Commercial Metals stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $50.65, for a total transaction of $2,532,500.00. Following the sale, the chief executive officer now directly owns 433,785 shares in the company, valued at approximately $21,971,210.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Ty L. Garrison sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the completion of the sale, the senior vice president now directly owns 111,408 shares in the company, valued at approximately $5,900,167.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barbara Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total value of $2,532,500.00. Following the completion of the sale, the chief executive officer now owns 433,785 shares of the company’s stock, valued at $21,971,210.25. The disclosure for this sale can be found here. Insiders have sold 174,247 shares of company stock worth $9,332,716 in the last three months. 1.20% of the stock is owned by insiders.
Commercial Metals Stock Performance
Commercial Metals stock opened at $51.68 on Friday. The stock’s 50 day moving average price is $55.38 and its 200 day moving average price is $50.14. The firm has a market capitalization of $6.04 billion, a PE ratio of 6.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.34 and a current ratio of 3.68. Commercial Metals has a one year low of $35.22 and a one year high of $58.09.
Commercial Metals (NYSE:CMC – Get Free Report) last posted its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.18. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $2.61 EPS. Commercial Metals’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Commercial Metals will post 7.56 EPS for the current fiscal year.
Commercial Metals Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Monday, July 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.64 annualized dividend and a yield of 1.24%. Commercial Metals’s dividend payout ratio is presently 7.91%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Commercial Metals in a research note on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price objective on the stock. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Finally, BMO Capital Markets boosted their price target on Commercial Metals from $56.00 to $58.00 in a research report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and a consensus price target of $57.83.
Check Out Our Latest Research Report on Commercial Metals
About Commercial Metals
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
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Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2023 and why they should be in your portfolio.
Ontario Teachers Pension Plan Board purchased a new stake in shares of Commercial Metals (NYSE:CMC – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 33,698 shares of the basic materials company’s stock, valued at approximately $1,648,000.
Several other institutional investors also recently modified their holdings of the stock. Quarry LP bought a new position in shares of Commercial Metals in the 1st quarter worth $30,000. Sunbelt Securities Inc. purchased a new stake in Commercial Metals during the first quarter valued at about $30,000. CI Investments Inc. bought a new stake in Commercial Metals during the fourth quarter worth about $32,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Commercial Metals in the 1st quarter worth about $49,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Commercial Metals by 920.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 920 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Commercial Metals news, CEO Barbara Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total transaction of $2,532,500.00. Following the completion of the transaction, the chief executive officer now owns 433,785 shares of the company’s stock, valued at $21,971,210.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commercial Metals news, CEO Barbara Smith sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total transaction of $2,532,500.00. Following the completion of the sale, the chief executive officer now directly owns 433,785 shares in the company, valued at approximately $21,971,210.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ty L. Garrison sold 5,000 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $52.96, for a total transaction of $264,800.00. Following the sale, the senior vice president now owns 111,408 shares in the company, valued at approximately $5,900,167.68. The disclosure for this sale can be found here. Insiders have sold 174,247 shares of company stock valued at $9,332,716 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
Analyst Upgrades and Downgrades
CMC has been the subject of several research reports. BMO Capital Markets upped their target price on Commercial Metals from $56.00 to $58.00 in a research note on Friday, June 23rd. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and a consensus price target of $57.83.
View Our Latest Research Report on Commercial Metals
Commercial Metals Trading Up 2.7 %
NYSE:CMC opened at $53.28 on Friday. Commercial Metals has a 52 week low of $35.22 and a 52 week high of $58.09. The company has a fifty day moving average of $55.41 and a 200 day moving average of $50.16. The company has a quick ratio of 2.34, a current ratio of 3.68 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $6.22 billion, a P/E ratio of 6.59 and a beta of 1.32.
Commercial Metals (NYSE:CMC – Get Free Report) last issued its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.61 earnings per share. On average, research analysts predict that Commercial Metals will post 7.7 earnings per share for the current year.
Commercial Metals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Monday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. Commercial Metals’s dividend payout ratio (DPR) is currently 7.91%.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
See Also
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Systematic Financial Management LP trimmed its position in Commercial Metals (NYSE:CMC – Free Report) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 565,349 shares of the basic materials company’s stock after selling 36,966 shares during the period. Commercial Metals comprises approximately 0.9% of Systematic Financial Management LP’s holdings, making the stock its 24th largest holding. Systematic Financial Management LP owned about 0.48% of Commercial Metals worth $27,646,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CMC. Norges Bank bought a new position in Commercial Metals in the 4th quarter valued at $114,477,000. State Street Corp boosted its position in shares of Commercial Metals by 22.3% in the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after purchasing an additional 1,367,997 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Commercial Metals by 249.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 867,246 shares of the basic materials company’s stock worth $11,720,000 after purchasing an additional 619,296 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Commercial Metals by 371.0% in the 1st quarter. Acadian Asset Management LLC now owns 657,415 shares of the basic materials company’s stock worth $32,124,000 after purchasing an additional 517,834 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Commercial Metals by 33.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,652,812 shares of the basic materials company’s stock worth $68,790,000 after purchasing an additional 409,679 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors.
Commercial Metals Trading Down 1.4 %
Commercial Metals stock traded down $0.77 during mid-day trading on Friday, hitting $53.69. 335,208 shares of the company’s stock were exchanged, compared to its average volume of 901,974. The firm has a market capitalization of $6.27 billion, a P/E ratio of 6.66 and a beta of 1.32. Commercial Metals has a fifty-two week low of $35.22 and a fifty-two week high of $58.09. The company has a quick ratio of 2.34, a current ratio of 3.68 and a debt-to-equity ratio of 0.27. The company’s 50 day simple moving average is $55.44 and its 200-day simple moving average is $50.22.
Commercial Metals (NYSE:CMC – Get Free Report) last released its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $2.61 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals will post 7.7 earnings per share for the current year.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Monday, July 3rd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, June 30th. Commercial Metals’s dividend payout ratio is 7.91%.
Analysts Set New Price Targets
CMC has been the topic of several recent research reports. UBS Group initiated coverage on Commercial Metals in a research report on Tuesday, July 11th. They issued a “buy” rating and a $63.00 price target on the stock. BMO Capital Markets raised their price target on Commercial Metals from $56.00 to $58.00 in a research report on Friday, June 23rd. Finally, StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $57.83.
Read Our Latest Stock Analysis on Commercial Metals
Insider Buying and Selling at Commercial Metals
In other Commercial Metals news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the sale, the senior vice president now owns 111,408 shares of the company’s stock, valued at approximately $5,900,167.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the sale, the senior vice president now owns 111,408 shares of the company’s stock, valued at $5,900,167.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barbara Smith sold 32,243 shares of Commercial Metals stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $52.47, for a total value of $1,691,790.21. Following the completion of the sale, the chief executive officer now directly owns 401,542 shares in the company, valued at approximately $21,068,908.74. The disclosure for this sale can be found here. Insiders have sold 174,247 shares of company stock valued at $9,332,716 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
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. 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
M&T Bank Corp lessened its stake in shares of Commercial Metals (NYSE:CMC – Free Report) by 30.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,580 shares of the basic materials company’s stock after selling 2,010 shares during the period. M&T Bank Corp’s holdings in Commercial Metals were worth $224,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its stake in shares of Commercial Metals by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,987 shares of the basic materials company’s stock worth $337,000 after buying an additional 201 shares in the last quarter. Jennison Associates LLC boosted its stake in Commercial Metals by 1.2% during the 1st quarter. Jennison Associates LLC now owns 24,337 shares of the basic materials company’s stock valued at $1,190,000 after purchasing an additional 277 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Commercial Metals by 18.0% in the 4th quarter. Assetmark Inc. now owns 1,951 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 298 shares in the last quarter. Sawgrass Asset Management LLC increased its holdings in shares of Commercial Metals by 4.1% in the 1st quarter. Sawgrass Asset Management LLC now owns 7,675 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 304 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Commercial Metals by 5.0% in the first quarter. Mackenzie Financial Corp now owns 6,812 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.
Insider Activity
In other Commercial Metals news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $52.96, for a total transaction of $264,800.00. Following the transaction, the senior vice president now owns 111,408 shares of the company’s stock, valued at $5,900,167.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commercial Metals news, SVP Ty L. Garrison sold 5,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the completion of the sale, the senior vice president now owns 111,408 shares in the company, valued at approximately $5,900,167.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barbara Smith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $50.65, for a total value of $2,532,500.00. Following the completion of the transaction, the chief executive officer now owns 433,785 shares in the company, valued at $21,971,210.25. The disclosure for this sale can be found here. Insiders have sold a total of 174,247 shares of company stock valued at $9,332,716 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
Commercial Metals Stock Performance
CMC opened at $55.23 on Thursday. The company’s 50 day moving average is $55.40 and its 200 day moving average is $50.19. The company has a current ratio of 3.68, a quick ratio of 2.34 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 6.83 and a beta of 1.32. Commercial Metals has a 12-month low of $35.22 and a 12-month high of $58.09.
Commercial Metals (NYSE:CMC – Get Free Report) last issued its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Commercial Metals had a net margin of 10.72% and a return on equity of 26.49%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.61 EPS. On average, equities research analysts predict that Commercial Metals will post 7.7 EPS for the current year.
Commercial Metals Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Monday, July 3rd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, June 30th. Commercial Metals’s dividend payout ratio (DPR) is currently 7.91%.
Wall Street Analysts Forecast Growth
CMC has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Commercial Metals from $56.00 to $58.00 in a report on Friday, June 23rd. UBS Group assumed coverage on shares of Commercial Metals in a report on Tuesday, July 11th. They set a “buy” rating and a $63.00 price objective for the company. Finally, StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $57.83.
Check Out Our Latest Report on CMC
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. 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.
Further Reading
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Ontario Teachers Pension Plan Board purchased a new stake in shares of Commercial Metals (NYSE:CMC – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 33,698 shares of the basic materials company’s stock, valued at approximately $1,648,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP bought a new position in Commercial Metals in the 1st quarter worth approximately $372,000. O Shaughnessy Asset Management LLC increased its position in Commercial Metals by 2.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,365 shares of the basic materials company’s stock worth $605,000 after buying an additional 285 shares during the period. Prudential Financial Inc. increased its position in Commercial Metals by 366.8% in the 1st quarter. Prudential Financial Inc. now owns 171,160 shares of the basic materials company’s stock worth $8,370,000 after buying an additional 134,497 shares during the period. Franklin Resources Inc. increased its position in Commercial Metals by 0.4% in the 1st quarter. Franklin Resources Inc. now owns 649,636 shares of the basic materials company’s stock worth $31,767,000 after buying an additional 2,294 shares during the period. Finally, Inceptionr LLC bought a new position in Commercial Metals in the 1st quarter worth approximately $1,038,000. 82.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CMC has been the subject of a number of recent research reports. BMO Capital Markets upped their target price on Commercial Metals from $56.00 to $58.00 in a research note on Friday, June 23rd. UBS Group initiated coverage on Commercial Metals in a report on Tuesday, July 11th. They set a “buy” rating and a $63.00 target price on the stock. Finally, StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.83.
View Our Latest Stock Analysis on CMC
Insider Activity at Commercial Metals
In other Commercial Metals news, CEO Barbara Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $50.65, for a total value of $2,532,500.00. Following the completion of the transaction, the chief executive officer now directly owns 433,785 shares in the company, valued at $21,971,210.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Ty L. Garrison sold 5,000 shares of Commercial Metals stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $54.98, for a total transaction of $274,900.00. Following the completion of the transaction, the senior vice president now directly owns 106,408 shares in the company, valued at approximately $5,850,311.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barbara Smith sold 50,000 shares of Commercial Metals stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $50.65, for a total value of $2,532,500.00. Following the transaction, the chief executive officer now owns 433,785 shares of the company’s stock, valued at $21,971,210.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,247 shares of company stock valued at $9,332,716. 1.20% of the stock is owned by insiders.
Commercial Metals Stock Down 0.3 %
Shares of NYSE CMC traded down $0.15 during mid-day trading on Wednesday, reaching $56.15. 56,331 shares of the company’s stock were exchanged, compared to its average volume of 901,921. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 6.99 and a beta of 1.32. The company has a current ratio of 3.68, a quick ratio of 2.34 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $55.34 and a 200 day simple moving average of $50.16. Commercial Metals has a twelve month low of $35.22 and a twelve month high of $58.09.
Commercial Metals (NYSE:CMC – Get Free Report) last announced its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm earned $2.61 EPS. Commercial Metals’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities analysts expect that Commercial Metals will post 7.7 EPS for the current fiscal year.
Commercial Metals Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Monday, July 3rd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, June 30th. Commercial Metals’s dividend payout ratio is presently 7.91%.
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. 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.
Further Reading
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Commercial Metals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Commercial Metals wasn’t on the list.
While Commercial Metals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Envestnet Asset Management Inc. boosted its position in Commercial Metals (NYSE:CMC – Free Report) by 249.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867,246 shares of the basic materials company’s stock after purchasing an additional 619,296 shares during the period. Envestnet Asset Management Inc. owned about 0.74% of Commercial Metals worth $11,720,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Commercial Metals by 1.1% during the first quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock worth $550,481,000 after acquiring an additional 142,062 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Commercial Metals by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,830,526 shares of the basic materials company’s stock valued at $378,217,000 after buying an additional 185,168 shares during the last quarter. State Street Corp increased its position in Commercial Metals by 22.3% during the first quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after buying an additional 1,367,997 shares in the last quarter. Norges Bank acquired a new position in shares of Commercial Metals in the fourth quarter worth $114,477,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Commercial Metals by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,754,612 shares of the basic materials company’s stock worth $85,801,000 after acquiring an additional 20,239 shares during the last quarter. 82.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CMC. BMO Capital Markets boosted their target price on shares of Commercial Metals from $56.00 to $58.00 in a research note on Friday, June 23rd. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday. Finally, UBS Group began coverage on shares of Commercial Metals in a research note on Tuesday, July 11th. They issued a “buy” rating and a $63.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.83.
View Our Latest Stock Analysis on CMC
Commercial Metals Price Performance
CMC opened at $57.65 on Tuesday. Commercial Metals has a 1 year low of $35.22 and a 1 year high of $58.09. The company’s 50 day simple moving average is $55.10 and its 200 day simple moving average is $50.16. The stock has a market capitalization of $6.73 billion, a PE ratio of 7.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.34 and a current ratio of 3.68.
Commercial Metals (NYSE:CMC – Get Free Report) last announced its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.32 billion. Commercial Metals had a net margin of 10.72% and a return on equity of 26.49%. Commercial Metals’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.61 EPS. As a group, sell-side analysts expect that Commercial Metals will post 7.7 EPS for the current year.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, June 30th. This represents a $0.64 annualized dividend and a yield of 1.11%. Commercial Metals’s dividend payout ratio is presently 7.91%.
Insider Activity
In related news, SVP Ty L. Garrison sold 5,000 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $52.96, for a total transaction of $264,800.00. Following the completion of the sale, the senior vice president now owns 111,408 shares of the company’s stock, valued at approximately $5,900,167.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Barbara Smith sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $56.45, for a total transaction of $95,965.00. Following the sale, the chief executive officer now directly owns 332,085 shares in the company, valued at approximately $18,746,198.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ty L. Garrison sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $52.96, for a total value of $264,800.00. Following the transaction, the senior vice president now directly owns 111,408 shares in the company, valued at $5,900,167.68. The disclosure for this sale can be found here. Insiders have sold 174,247 shares of company stock valued at $9,332,716 in the last three months. Corporate insiders own 1.20% of the company’s stock.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
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