KBC Group NV Buys 66,644 Shares of Commercial Metals Company $CMC

KBC Group NV grew its stake in shares of Commercial Metals Company (NYSE:CMC) by 1,920.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,114 shares of the basic materials company’s stock after purchasing an additional 66,644 shares during the period. KBC Group NV’s holdings in Commercial Metals were worth $4,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMC. Global Retirement Partners LLC increased its position in Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after buying an additional 301 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Commercial Metals during the 4th quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd boosted its holdings in Commercial Metals by 617.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 716 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Commercial Metals in the fourth quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC grew its stake in Commercial Metals by 84.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 708 shares during the period. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Commercial Metals

In other news, CEO Peter R. Matt purchased 8,230 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the transaction, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. This trade represents a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.62% of the stock is owned by insiders.

Commercial Metals Stock Down 0.2%

Shares of NYSE:CMC opened at $67.96 on Friday. The business’s 50 day moving average is $70.18 and its 200 day moving average is $70.51. Commercial Metals Company has a 12-month low of $49.66 and a 12-month high of $84.87. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.39 and a beta of 1.54. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.Commercial Metals’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. On average, sell-side analysts forecast that Commercial Metals Company will post 6.63 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were issued 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 dividend payout ratio is currently 15.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMC shares. Barclays assumed coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price objective for the company. BNP Paribas Exane raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley raised their price objective on shares of Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Commercial Metals presently has an average rating of “Moderate Buy” and an average price target of $79.45.

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.