Landscape Capital Management L.L.C. Invests $932,000 in Commercial Metals Company $CMC

Landscape Capital Management L.L.C. bought a new position in shares of Commercial Metals Company (NYSE:CMC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,853 shares of the basic materials company’s stock, valued at approximately $932,000.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its stake in shares of Commercial Metals by 0.6% during the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock worth $1,606,000 after purchasing an additional 133 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Commercial Metals by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 3,610 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 147 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Commercial Metals by 3.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 149 shares during the period. Corient Private Wealth LLC boosted its holdings in Commercial Metals by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company’s stock worth $1,630,000 after buying an additional 155 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Commercial Metals by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock worth $256,000 after buying an additional 160 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMC has been the topic of several analyst reports. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $89.00 in a research report on Wednesday, May 13th. Barclays upped their price objective on shares of Commercial Metals from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Citigroup lowered their target price on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Wells Fargo & Company raised their target price on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Commercial Metals presently has an average rating of “Moderate Buy” and an average price target of $81.18.

Insiders Place Their Bets

In other Commercial Metals news, CEO Peter R. Matt purchased 8,230 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average cost of $61.30 per share, with a total value 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 represents a 4.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John R. Mcpherson purchased 1,390 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $71.92 per share, for a total transaction of $99,968.80. Following the completion of the transaction, the director directly owned 21,927 shares of the company’s stock, valued at $1,576,989.84. The trade was a 6.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is owned by corporate insiders.

Commercial Metals Price Performance

NYSE:CMC opened at $66.36 on Monday. The stock has a 50 day moving average of $68.73 and a two-hundred day moving average of $69.83. Commercial Metals Company has a 12 month low of $53.08 and a 12 month high of $84.87. The firm has a market cap of $7.34 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.52. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73.

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 the consensus estimate of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, analysts expect that Commercial Metals Company will post 6.64 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

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

Commercial Metals declared that its board has authorized a share buyback program on Wednesday, August 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.