8,909 Shares in Commercial Metals Company $CMC Acquired by Foster & Motley Inc.

Foster & Motley Inc. acquired a new stake in Commercial Metals Company (NYSE:CMC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,909 shares of the basic materials company’s stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMC. USA Financial Formulas raised its position in shares of Commercial Metals by 67.6% during the 1st quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Commercial Metals by 617.2% in 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 last quarter. Los Angeles Capital Management LLC bought a new position in shares of Commercial Metals in the 4th quarter worth $59,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Commercial Metals by 105.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 626 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Down 3.8%

Shares of Commercial Metals stock opened at $68.31 on Thursday. Commercial Metals Company has a 1 year low of $53.08 and a 1 year high of $84.87. The business has a 50-day moving average of $69.21 and a two-hundred day moving average of $70.01. The company has a market capitalization of $7.56 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Commercial Metals’s revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts predict that Commercial Metals Company will post 6.64 EPS for the current year.

Commercial Metals announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Commercial Metals Announces Dividend

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

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson acquired 1,390 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $71.92 per share, with a total value of $99,968.80. Following the transaction, the director 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. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter R. Matt bought 8,230 shares of Commercial Metals stock in a transaction that occurred on Friday, July 10th. The stock was bought 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 trade represents a 4.75% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CMC shares. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $79.00 to $89.00 in a report on Wednesday, May 13th. Weiss Ratings upgraded Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. BNP Paribas Exane upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $85.00 price target on shares of Commercial Metals in a research report on Thursday, August 6th. Finally, Morgan Stanley upped their target price on shares of Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.18.

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.