165,515 Shares in Commercial Metals Company $CMC Bought by Kettle Hill Capital Management LLC

Kettle Hill Capital Management LLC acquired a new stake in shares of Commercial Metals Company (NYSE:CMC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 165,515 shares of the basic materials company’s stock, valued at approximately $11,457,000. Commercial Metals accounts for approximately 2.6% of Kettle Hill Capital Management LLC’s holdings, making the stock its 16th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new stake in Commercial Metals in the third quarter valued at approximately $821,000. American Century Companies Inc. grew its stake in Commercial Metals by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after buying an additional 112,267 shares in the last quarter. Qsemble Capital Management LP increased its holdings in shares of Commercial Metals by 118.6% in the 4th quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock worth $3,453,000 after buying an additional 27,062 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Commercial Metals by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock worth $50,670,000 after buying an additional 64,491 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Commercial Metals by 14.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company’s stock worth $26,329,000 after acquiring an additional 56,705 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Down 0.9%

Shares of NYSE:CMC opened at $77.06 on Tuesday. The stock has a market capitalization of $8.55 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.47 and a beta of 1.50. The stock’s 50-day moving average price is $70.51 and its 200-day moving average price 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. Commercial Metals Company has a 12-month low of $47.06 and a 12-month high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share 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 company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm posted $0.26 EPS. The company’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals Company will post 6.4 earnings per share for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a dividend of $0.20 per share. 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. The ex-dividend date of this dividend was Monday, April 6th. Commercial Metals’s payout ratio is currently 16.04%.

Wall Street Analysts Forecast Growth

CMC has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Barclays initiated coverage on Commercial Metals in a research report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price target on the stock. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.10.

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.