GSA Capital Partners LLP Purchases New Shares in Commercial Metals Company $CMC

GSA Capital Partners LLP acquired a new stake in shares of Commercial Metals Company (NYSE:CMC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 33,406 shares of the basic materials company’s stock, valued at approximately $2,096,000.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas boosted its stake in shares of Commercial Metals by 67.6% during the 1st quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Global Retirement Partners LLC raised its stake in Commercial Metals by 110.7% in the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after buying an additional 301 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Commercial Metals by 617.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after buying an additional 716 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at approximately $59,000. Finally, Colonial Trust Co SC bought a new stake in shares of Commercial Metals during the 4th quarter valued at $81,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In other Commercial Metals news, CEO Peter R. Matt acquired 8,230 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was purchased at an average price 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 in the company, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Mcpherson bought 1,390 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $71.92 per share, with a total value of $99,968.80. Following the transaction, the director directly owned 21,927 shares of the company’s stock, valued at $1,576,989.84. This represents a 6.77% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is owned by insiders.

Commercial Metals Stock Performance

CMC opened at $71.60 on Friday. The company has a 50 day simple moving average of $69.43 and a two-hundred day simple moving average of $70.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. The firm has a market cap of $7.92 billion, a P/E ratio of 13.48, a PEG ratio of 0.41 and a beta of 1.52. Commercial Metals Company has a 1-year low of $53.08 and a 1-year high of $84.87.

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

Commercial Metals announced that its board has initiated a stock repurchase plan on Wednesday, August 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, July 6th. Commercial Metals’s payout ratio is presently 15.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup lowered their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets raised their price target on shares of Commercial Metals from $77.00 to $80.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Barclays lifted their price target on shares of Commercial Metals from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Commercial Metals from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.18.

Commercial Metals 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.