Segall Bryant & Hamill LLC Takes Position in Commercial Metals Company $CMC

Segall Bryant & Hamill LLC purchased a new position in shares of Commercial Metals Company (NYSE:CMC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,030 shares of the basic materials company’s stock, valued at approximately $1,046,000.

A number of other institutional investors and hedge funds have also modified their holdings of CMC. Lazard Asset Management LLC increased its stake in Commercial Metals by 0.6% in the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock valued at $1,606,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Commercial Metals by 3.1% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 149 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Commercial Metals by 0.7% in the fourth 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 last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Commercial Metals by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 160 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Commercial Metals by 2.9% in the third quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock valued at $380,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CMC has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Jefferies Financial Group upgraded shares of Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. Finally, Bank of America lowered their price target on shares of Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.45.

Insider Buying and Selling at Commercial Metals

In other news, CEO Peter R. Matt bought 8,230 shares of Commercial Metals stock in a transaction that occurred on Friday, July 10th. The shares were purchased at an average price of $61.30 per share, for a total transaction 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. The trade was a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.62% of the company’s stock.

Commercial Metals Stock Up 4.3%

CMC opened at $75.78 on Thursday. Commercial Metals Company has a 12 month low of $51.52 and a 12 month high of $84.87. The business has a 50-day moving average of $69.88 and a two-hundred day moving average of $70.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.42 and a beta of 1.52.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, topping 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 prior year, the firm posted $0.74 EPS. The company’s revenue was up 22.9% on a year-over-year basis. On average, research analysts expect that Commercial Metals Company will post 6.64 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were given 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, July 6th. Commercial Metals’s dividend payout ratio (DPR) is 15.07%.

Commercial Metals declared that its board has approved a share repurchase program on Wednesday, August 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.