Cim LLC Increases Stake in Commercial Metals Company $CMC

Cim LLC increased its position in shares of Commercial Metals Company (NYSE:CMC) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,762 shares of the basic materials company’s stock after buying an additional 978 shares during the period. Cim LLC’s holdings in Commercial Metals were worth $1,967,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in shares of Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after buying an additional 244 shares during the period. Park Square Financial Group LLC bought a new stake in Commercial Metals during the fourth quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in Commercial Metals during the fourth quarter valued at about $34,000. UMB Bank n.a. boosted its position in Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 268 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Commercial Metals during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $59.42 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The company has a market cap of $6.65 billion, a PE ratio of 191.68, a P/E/G ratio of 1.76 and a beta of 1.33. The business has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $49.37. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.Commercial Metals’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. As a group, equities analysts expect that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals’s dividend payout ratio (DPR) is currently 232.26%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Wall Street Zen raised Commercial Metals from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. Wells Fargo & Company raised Commercial Metals to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Commercial Metals presently has an average rating of “Moderate Buy” and an average price target of $58.81.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.