SG Americas Securities LLC lifted its holdings in Commercial Metals (NYSE:CMC) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,704 shares of the basic materials company’s stock after purchasing an additional 6,677 shares during the period. SG Americas Securities LLC’s holdings in Commercial Metals were worth $996,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in CMC. Millennium Management LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at about $34,374,000. BlueCrest Capital Management Ltd increased its stake in Commercial Metals by 1,334.4% during the 4th quarter. BlueCrest Capital Management Ltd now owns 649,676 shares of the basic materials company’s stock worth $13,851,000 after buying an additional 604,384 shares in the last quarter. Systematic Financial Management LP purchased a new stake in Commercial Metals during the 4th quarter worth approximately $12,477,000. BlackRock Inc. increased its stake in Commercial Metals by 2.3% during the 4th quarter. BlackRock Inc. now owns 14,686,246 shares of the basic materials company’s stock worth $313,111,000 after buying an additional 333,388 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Commercial Metals during the 4th quarter worth approximately $6,358,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
Several research firms have commented on CMC. Macquarie upgraded Commercial Metals from an “underperform” rating to a “neutral” rating and set a $24.00 price objective for the company in a research note on Thursday, May 17th. Jefferies Group reiterated a “buy” rating on shares of Commercial Metals in a research note on Friday, March 23rd. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Goldman Sachs Group began coverage on Commercial Metals in a research note on Tuesday, March 20th. They set a “sell” rating and a $25.00 price objective for the company. Finally, Longbow Research began coverage on Commercial Metals in a research note on Friday, April 6th. They set a “buy” rating and a $27.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Commercial Metals currently has an average rating of “Hold” and a consensus target price of $24.33.
In other news, CAO Adam R. Hickey sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.50, for a total transaction of $510,000.00. Following the transaction, the chief accounting officer now directly owns 15,632 shares in the company, valued at approximately $398,616. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
Shares of Commercial Metals stock opened at $23.13 on Friday. The company has a market cap of $2.75 billion, a PE ratio of 24.35, a P/E/G ratio of 0.40 and a beta of 1.35. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.12 and a current ratio of 3.11.
Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 22nd. The basic materials company reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Commercial Metals had a return on equity of 8.05% and a net margin of 1.15%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. analysts expect that Commercial Metals will post 1.39 earnings per share for the current fiscal year.
Commercial Metals Company Profile
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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