Gallagher Fiduciary Advisors LLC Takes Position in Commercial Metals Company $CMC

Gallagher Fiduciary Advisors LLC bought a new position in shares of Commercial Metals Company (NYSE:CMC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,417 shares of the basic materials company’s stock, valued at approximately $967,000.

A number of other large investors also recently modified their holdings of the company. Qsemble Capital Management LP raised its holdings in Commercial Metals by 118.6% during the fourth quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock worth $3,453,000 after buying an additional 27,062 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Commercial Metals by 11.5% in the first quarter. California Public Employees Retirement System now owns 277,877 shares of the basic materials company’s stock valued at $17,070,000 after buying an additional 28,693 shares in the last quarter. NFJ Investment Group LLC bought a new position in shares of Commercial Metals in the fourth quarter valued at $12,600,000. Bank of America Corp DE grew its holdings in shares of Commercial Metals by 87.4% during the first quarter. Bank of America Corp DE now owns 1,631,213 shares of the basic materials company’s stock valued at $100,205,000 after buying an additional 760,985 shares during the last quarter. Finally, Kettle Hill Capital Management LLC acquired a new position in shares of Commercial Metals during the fourth quarter valued at about $11,457,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CMC. Morgan Stanley upped their target price on shares of Commercial Metals from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, June 22nd. Zacks Research upgraded Commercial Metals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings raised Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Citigroup lowered their price objective on Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Bank of America dropped their target price on Commercial Metals from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.18.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 1,390 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $71.92 per share, with a total value of $99,968.80. Following the completion of the purchase, the director owned 21,927 shares of the company’s stock, valued at approximately $1,576,989.84. This represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter R. Matt purchased 8,230 shares of the stock in a transaction on Friday, July 10th. The stock was acquired at an average cost of $61.30 per share, for a total transaction of $504,499.00. Following the acquisition, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

Commercial Metals Trading Up 3.2%

Shares of Commercial Metals stock opened at $66.94 on Wednesday. The firm has a market cap of $7.41 billion, a PE ratio of 12.61, a P/E/G ratio of 0.37 and a beta of 1.52. Commercial Metals Company has a 1 year low of $53.08 and a 1 year high of $84.87. 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 fifty day moving average price of $68.29 and a 200-day moving average price of $69.60.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Commercial Metals Company will post 6.64 EPS for the current year.

Commercial Metals Dividend Announcement

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

Commercial Metals declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.