14,333 Shares in Commercial Metals Company $CMC Acquired by Merit Financial Group LLC

Merit Financial Group LLC acquired a new stake in shares of Commercial Metals Company (NYSE:CMC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,333 shares of the basic materials company’s stock, valued at approximately $821,000.

Several other hedge funds have also recently made changes to their positions in the company. Drummond Knight Asset Management Pty Ltd bought a new position in Commercial Metals in the 3rd quarter worth about $15,579,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Commercial Metals by 11.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 225,817 shares of the basic materials company’s stock worth $13,312,000 after buying an additional 22,587 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Commercial Metals by 430.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company’s stock valued at $1,675,000 after acquiring an additional 23,738 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Commercial Metals by 6.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,033 shares of the basic materials company’s stock valued at $1,420,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Commercial Metals by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 393,334 shares of the basic materials company’s stock worth $19,238,000 after acquiring an additional 5,147 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and set a $84.00 price target on shares of Commercial Metals in a research report on Tuesday, December 30th. Citigroup boosted their target price on Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. upgraded Commercial Metals from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $64.00 to $78.00 in a research report on Friday, December 5th. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th. Finally, Wells Fargo & Company boosted their price target on shares of Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Commercial Metals has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Commercial Metals Stock Down 0.7%

Shares of NYSE CMC opened at $78.70 on Thursday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 20.28, a PEG ratio of 0.42 and a beta of 1.49. Commercial Metals Company has a one year low of $37.92 and a one year high of $84.87. The firm’s 50 day simple moving average is $75.05 and its two-hundred day simple moving average is $64.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70.

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 analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

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

Insider Transactions at Commercial Metals

In related news, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares in the company, valued at $4,228,813.60. This trade represents a 32.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis V. Arriola purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was bought at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the completion of the purchase, the director directly owned 9,238 shares in the company, valued at approximately $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 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.