Commercial Metals Company $CMC Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in Commercial Metals Company (NYSE:CMC) by 2,356.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,183 shares of the basic materials company’s stock after purchasing an additional 147,906 shares during the quarter. Edgestream Partners L.P.’s holdings in Commercial Metals were worth $9,471,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Global Retirement Partners LLC grew its holdings in shares of Commercial Metals by 110.7% during the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 301 shares during the period. V Square Quantitative Management LLC purchased a new stake in Commercial Metals in the 4th quarter valued at about $54,000. Caitong International Asset Management Co. Ltd raised its holdings in Commercial Metals by 617.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock valued at $58,000 after buying an additional 716 shares during the period. Los Angeles Capital Management LLC acquired a new position in Commercial Metals in the fourth quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC lifted its position in Commercial Metals by 105.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock valued at $75,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Morgan Stanley boosted their price target on shares of Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. BNP Paribas Exane raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Citigroup dropped their target price on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.45.

Commercial Metals Stock Down 3.6%

Shares of NYSE:CMC opened at $67.95 on Thursday. Commercial Metals Company has a fifty-two week low of $49.66 and a fifty-two week high of $84.87. The firm’s 50 day moving average price is $70.06 and its 200 day moving average price is $70.39. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.41 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts predict that Commercial Metals Company will post 6.64 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s payout ratio is 15.07%.

Insider Activity at Commercial Metals

In other news, CEO Peter R. Matt bought 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the completion of the purchase, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. This trade represents a 4.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

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.