Paradigm Asset Management Co. LLC Purchases New Stake in Commercial Metals Company $CMC

Paradigm Asset Management Co. LLC acquired a new position in shares of Commercial Metals Company (NYSE:CMC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 13,700 shares of the basic materials company’s stock, valued at approximately $670,000.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of Commercial Metals by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 385,527 shares of the basic materials company’s stock worth $17,738,000 after purchasing an additional 22,682 shares during the period. State of Michigan Retirement System raised its position in shares of Commercial Metals by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,237 shares of the basic materials company’s stock valued at $1,253,000 after acquiring an additional 300 shares during the period. New York State Common Retirement Fund boosted its stake in Commercial Metals by 58.4% during the 1st quarter. New York State Common Retirement Fund now owns 277,605 shares of the basic materials company’s stock worth $12,773,000 after acquiring an additional 102,389 shares during the last quarter. CWM LLC grew its holdings in Commercial Metals by 266.1% during the first quarter. CWM LLC now owns 3,379 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 2,456 shares during the period. Finally, Isthmus Partners LLC increased its stake in Commercial Metals by 3.2% in the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group set a $70.00 price target on Commercial Metals and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Monday, October 20th. Citigroup raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $60.00 to $65.00 in a research note on Friday, October 17th. Bank of America boosted their price target on Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, The Goldman Sachs Group lifted their target price on Commercial Metals from $69.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.20.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson purchased 1,722 shares of the business’s stock in a transaction on Monday, October 20th. The stock was acquired at an average price of $58.09 per share, with a total value of $100,030.98. Following the acquisition, the director directly owned 6,722 shares of the company’s stock, valued at $390,480.98. This trade represents a 34.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC opened at $58.85 on Friday. The firm has a market capitalization of $6.53 billion, a P/E ratio of 77.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $58.62 and its two-hundred day moving average price is $53.36. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business earned $0.90 EPS. Commercial Metals’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals’s payout ratio is presently 94.74%.

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.