SG Americas Securities LLC Buys 35,314 Shares of Commercial Metals Company $CMC

SG Americas Securities LLC grew its stake in Commercial Metals Company (NYSE:CMC) by 584.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,356 shares of the basic materials company’s stock after purchasing an additional 35,314 shares during the period. SG Americas Securities LLC’s holdings in Commercial Metals were worth $2,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CMC. Spire Wealth Management lifted its stake in Commercial Metals by 42.4% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 511 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 302 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Commercial Metals by 77.8% during the 2nd quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 610 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Commercial Metals by 84.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 708 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 1,722 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were bought at an average cost of $58.09 per share, with a total value of $100,030.98. Following the purchase, the director directly owned 6,722 shares of the company’s stock, valued at $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Commercial Metals Stock Up 1.7%

Commercial Metals stock opened at $74.20 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.70 and a current ratio of 4.47. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $75.03. The firm has a 50 day moving average price of $66.27 and a two-hundred day moving average price of $59.78. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 0.40 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is presently 18.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CMC shares. Zacks Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Wells Fargo & Company boosted their target price on shares of Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $84.00 price target on shares of Commercial Metals in a research note on Tuesday, December 30th. Finally, Citigroup boosted their price objective on shares of Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

About Commercial Metals

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.