JPMorgan Chase & Co. Grows Stock Holdings in Commercial Metals Company $CMC

JPMorgan Chase & Co. lifted its position in shares of Commercial Metals Company (NYSE:CMC) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 884,604 shares of the basic materials company’s stock after purchasing an additional 64,491 shares during the period. JPMorgan Chase & Co.’s holdings in Commercial Metals were worth $50,670,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Commercial Metals by 2.3% in the 3rd quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company’s stock worth $451,000 after buying an additional 180 shares during the period. Spire Wealth Management increased its stake in shares of Commercial Metals by 42.4% during the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after buying an additional 183 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Commercial Metals by 4.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 4,755 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 184 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Commercial Metals by 4.4% during the second quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after buying an additional 202 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in Commercial Metals by 4.7% in the third quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock worth $274,000 after buying an additional 213 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director Dennis V. Arriola bought 2,000 shares of Commercial Metals stock in a transaction on Tuesday, January 20th. The stock was acquired at an average price of $74.69 per share, with a total value of $149,380.00. Following the acquisition, the director owned 9,238 shares in the company, valued at approximately $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer J. Durbin sold 25,050 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the completion of the transaction, the insider owned 52,880 shares of the company’s stock, valued at $4,228,813.60. This represents a 32.14% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

CMC has been the topic of several research reports. Citigroup lifted their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Jefferies Financial Group set a $85.00 price objective on Commercial Metals and gave the company a “buy” rating in a research report on Thursday, January 8th. Wall Street Zen raised shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Zacks Research cut shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $74.54 on Thursday. The business has a fifty day moving average price of $75.55 and a 200-day moving average price of $65.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70. The company has a market capitalization of $8.27 billion, a PE ratio of 19.21, a PEG ratio of 0.40 and a beta of 1.49. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $84.87.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. Commercial Metals’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, equities analysts expect that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.0%. Commercial Metals’s dividend payout ratio is 18.56%.

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.