Fieldview Capital Management LLC Invests $768,000 in Commercial Metals Company $CMC

Fieldview Capital Management LLC acquired a new position in Commercial Metals Company (NYSE:CMC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,090 shares of the basic materials company’s stock, valued at approximately $768,000.

Several other large investors have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC lifted its holdings in shares of 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 worth $339,000 after acquiring an additional 149 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of 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 acquiring an additional 188 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 202 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Commercial Metals by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock worth $1,383,000 after acquiring an additional 206 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of Commercial Metals by 6.7% in the 4th quarter. Baron Wealth Management LLC now owns 3,814 shares of the basic materials company’s stock worth $264,000 after acquiring an additional 241 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Down 0.9%

Shares of NYSE:CMC opened at $77.06 on Tuesday. Commercial Metals Company has a 52 week low of $47.06 and a 52 week high of $84.87. The company’s 50 day moving average is $70.51 and its two-hundred day moving average is $70.80. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. The company has a market cap of $8.55 billion, a PE ratio of 17.16, a P/E/G ratio of 0.47 and a beta of 1.50.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts predict that Commercial Metals Company will post 6.4 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s payout ratio is currently 16.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMC shares. Barclays started coverage on shares of Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 target price on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $77.00 target price on shares of Commercial Metals in a report on Thursday, June 4th. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus target price of $77.10.

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.