Banco Bilbao Vizcaya Argentaria S.A. Buys 1,216 Shares of Commercial Metals Company $CMC

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Commercial Metals Company (NYSE:CMC) by 11.2% in the 1st quarter, Holdings Channel reports. The firm owned 12,062 shares of the basic materials company’s stock after acquiring an additional 1,216 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Commercial Metals were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of Commercial Metals in the first quarter worth about $44,345,000. Pacer Advisors Inc. lifted its stake in Commercial Metals by 4,372.6% in the 1st quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock worth $34,944,000 after purchasing an additional 742,503 shares in the last quarter. American Century Companies Inc. boosted its holdings in Commercial Metals by 86.1% in the 1st quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after purchasing an additional 734,265 shares during the period. Victory Capital Management Inc. grew its position in shares of 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 valued at $142,139,000 after purchasing an additional 666,886 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of 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 valued at $28,178,000 after purchasing an additional 564,418 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upgraded Commercial Metals to a “strong-buy” rating in a research report on Thursday, August 14th. UBS Group raised their price target on Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 13th. Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Commercial Metals presently has an average rating of “Moderate Buy” and a consensus target price of $58.81.

Commercial Metals Stock Performance

NYSE:CMC opened at $58.9520 on Friday. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 190.17, a PEG ratio of 2.72 and a beta of 1.28. The business has a 50 day moving average of $52.44 and a 200 day moving average of $48.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.11). The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. On average, sell-side analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Commercial Metals’s payout ratio is currently 232.26%.

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. 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.