Jackson Creek Investment Advisors LLC Takes $423,000 Position in Commercial Metals Company $CMC

Jackson Creek Investment Advisors LLC purchased a new position in shares of Commercial Metals Company (NYSE:CMC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 7,383 shares of the basic materials company’s stock, valued at approximately $423,000.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Commercial Metals by 1.4% during the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after buying an additional 1,219 shares during the period. Amundi boosted its position in shares of Commercial Metals by 13.3% in the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 291 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Commercial Metals by 614.9% in the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 10,121 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Commercial Metals by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after acquiring an additional 56,875 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Commercial Metals by 1.8% during the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock worth $2,453,000 after acquiring an additional 941 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMC. Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $68.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $84.00 target price on shares of Commercial Metals in a research report on Tuesday, December 30th. Finally, Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the stock a “buy” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Commercial Metals Trading Up 4.6%

Shares of CMC stock opened at $80.41 on Tuesday. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $80.65. The stock’s fifty day moving average price is $71.20 and its two-hundred day moving average price is $62.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.70 and a current ratio of 4.47. The company has a market cap of $8.92 billion, a PE ratio of 20.72, a P/E/G ratio of 0.41 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.29. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.Commercial Metals’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. Equities analysts predict that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is presently 18.56%.

Insider Activity

In related news, Director Dennis V. Arriola acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the transaction, the director directly owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.62% of the company’s stock.

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.