Jackson Creek Investment Advisors LLC Boosts Position in Commercial Metals Company $CMC

Jackson Creek Investment Advisors LLC boosted its position in shares of Commercial Metals Company (NYSE:CMC) by 340.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,520 shares of the basic materials company’s stock after acquiring an additional 25,137 shares during the quarter. Commercial Metals accounts for 0.7% of Jackson Creek Investment Advisors LLC’s portfolio, making the stock its 16th biggest holding. Jackson Creek Investment Advisors LLC’s holdings in Commercial Metals were worth $2,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Artemis Investment Management LLP purchased a new stake in Commercial Metals in the fourth quarter worth about $103,962,000. Merewether Investment Management LP purchased a new stake in Commercial Metals in the third quarter worth about $26,847,000. UBS Group AG increased its position in Commercial Metals by 41.8% in the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock worth $87,130,000 after buying an additional 448,083 shares in the last quarter. Millennium Management LLC increased its position in Commercial Metals by 44.2% in the third quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company’s stock worth $58,054,000 after buying an additional 310,431 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Commercial Metals by 11,006.1% in the third quarter. Bessemer Group Inc. now owns 260,993 shares of the basic materials company’s stock worth $14,948,000 after buying an additional 258,643 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays assumed coverage on Commercial Metals in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price target for the company. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. KeyCorp initiated coverage on Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.30.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $73.47 on Wednesday. The stock has a 50 day moving average of $66.38 and a 200 day moving average of $69.14. Commercial Metals Company has a 12 month low of $45.50 and a 12 month high of $84.87. The firm has a market cap of $8.15 billion, a PE ratio of 16.36, a PEG ratio of 0.42 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the company posted $0.26 earnings per share. Commercial Metals’s quarterly revenue was up 21.5% on a year-over-year basis. On average, research analysts expect that Commercial Metals Company will post 6.51 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is 16.04%.

Commercial Metals Company 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.