SG Americas Securities LLC Purchases 22,468 Shares of Commercial Metals Company $CMC

SG Americas Securities LLC grew its position in shares of Commercial Metals Company (NYSE:CMC) by 1,074.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,560 shares of the basic materials company’s stock after purchasing an additional 22,468 shares during the quarter. SG Americas Securities LLC’s holdings in Commercial Metals were worth $1,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Commercial Metals by 1.4% in the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock valued at $4,186,000 after buying an additional 1,219 shares during the last quarter. Amundi grew its holdings in Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Commercial Metals by 614.9% during the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Commercial Metals by 5.8% in 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 acquiring an additional 56,875 shares during the period. Finally, Empowered Funds LLC increased its position in Commercial Metals by 1.8% in the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after acquiring an additional 941 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Down 0.2%

NYSE:CMC opened at $61.58 on Friday. The firm’s fifty day moving average is $71.59 and its 200-day moving average is $71.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. Commercial Metals Company has a 52 week low of $49.66 and a 52 week high of $84.87. The firm has a market cap of $6.81 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.35 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. Commercial Metals’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Equities analysts expect that Commercial Metals Company will post 6.54 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Commercial Metals’s dividend payout ratio (DPR) is 15.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMC shares. BMO Capital Markets dropped their price target 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. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Morgan Stanley raised their target price on Commercial Metals from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, June 22nd. Finally, Barclays started coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Commercial Metals has a consensus rating of “Moderate Buy” and an average price target of $80.10.

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.