Systematic Financial Management LP Sells 20,087 Shares of Commercial Metals Company $CMC

Systematic Financial Management LP trimmed its holdings in Commercial Metals Company (NYSE:CMC) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 528,233 shares of the basic materials company’s stock after selling 20,087 shares during the quarter. Systematic Financial Management LP’s holdings in Commercial Metals were worth $32,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC increased its position in Commercial Metals by 0.6% during the fourth quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock worth $1,606,000 after acquiring an additional 133 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in 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% in the 4th quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company’s stock valued at $1,630,000 after purchasing an additional 155 shares during the period. Fifth Third Wealth Advisors LLC grew its position in Commercial Metals by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock worth $256,000 after purchasing an additional 160 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Commercial Metals by 2.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO Peter R. Matt acquired 8,230 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the acquisition, the chief executive officer owned 181,522 shares of the company’s stock, valued at $11,127,298.60. This trade represents a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Commercial Metals Trading Down 0.2%

Shares of CMC stock opened at $67.96 on Friday. Commercial Metals Company has a 52-week low of $49.66 and a 52-week high of $84.87. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 0.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. The firm has a fifty day moving average of $70.18 and a 200-day moving average of $70.51.

Commercial Metals (NYSE:CMC) last issued 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 net margin of 6.72% and a return on equity of 15.69%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that Commercial Metals Company will post 6.63 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CMC shares. JPMorgan Chase & Co. cut their price objective on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Zacks Research raised Commercial Metals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Citigroup lowered their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group began coverage on Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.45.

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.