Vise Technologies Inc. Makes New Investment in Commercial Metals Company $CMC

Vise Technologies Inc. acquired a new stake in Commercial Metals Company (NYSE:CMC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,357 shares of the basic materials company’s stock, valued at approximately $1,089,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. USA Financial Formulas raised its holdings in shares of Commercial Metals by 67.6% during the first quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Commercial Metals in the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its position in Commercial Metals by 617.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 716 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Commercial Metals during the 4th quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Commercial Metals by 105.0% during the 1st 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 Analyst Weigh In

Several equities analysts have recently issued reports on CMC shares. Barclays boosted their price objective on Commercial Metals from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. BMO Capital Markets lifted their price target on Commercial Metals from $77.00 to $80.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the company from $79.00 to $89.00 in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Finally, Bank of America dropped their price objective on shares of Commercial Metals from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.18.

Insider Buying and Selling

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the transaction, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. This represents a 4.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John R. Mcpherson purchased 1,390 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $71.92 per share, for a total transaction of $99,968.80. Following the purchase, the director directly owned 21,927 shares in the company, valued at $1,576,989.84. This trade represents a 6.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.62% of the company’s stock.

Commercial Metals Price Performance

NYSE:CMC opened at $66.36 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 52 week low of $53.08 and a 52 week high of $84.87. The stock’s 50-day moving average price is $68.73 and its 200-day moving average price is $69.90. The stock has a market capitalization of $7.34 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.52.

Commercial Metals (NYSE:CMC) last released its quarterly 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 company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.Commercial Metals’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, equities analysts expect that Commercial Metals Company will post 6.64 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid 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 dividend payout ratio is presently 15.07%.

Commercial Metals declared that its board has authorized a stock repurchase program on Wednesday, August 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.