Y Intercept Hong Kong Ltd Buys Shares of 124,996 Commercial Metals Company $CMC

Y Intercept Hong Kong Ltd bought a new position in Commercial Metals Company (NYSE:CMC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 124,996 shares of the basic materials company’s stock, valued at approximately $7,679,000. Y Intercept Hong Kong Ltd owned 0.11% of Commercial Metals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in shares of 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 stake in Commercial Metals during the 4th quarter worth $54,000. Caitong International Asset Management Co. Ltd lifted its holdings in Commercial Metals by 617.2% during 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 acquired a new position in Commercial Metals in the fourth quarter valued at about $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. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CMC shares. KeyCorp started coverage on Commercial Metals in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday, June 5th. Barclays started coverage on shares of Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective 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. Finally, Zacks Research lowered shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.10.

Commercial Metals Stock Down 0.2%

NYSE:CMC opened at $61.58 on Friday. The stock has a 50-day simple moving average of $71.59 and a 200 day simple moving average of $71.04. Commercial Metals Company has a 52-week low of $49.66 and a 52-week high of $84.87. The company has a market cap of $6.81 billion, a PE ratio of 11.60, a PEG ratio of 0.35 and a beta of 1.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts expect that Commercial Metals Company will post 6.54 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, July 6th. Commercial Metals’s dividend payout ratio is currently 15.07%.

About Commercial Metals

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.