Meeder Asset Management Inc. Buys 7,681 Shares of Commercial Metals Company $CMC

Meeder Asset Management Inc. grew its position in Commercial Metals Company (NYSE:CMC) by 187.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,770 shares of the basic materials company’s stock after buying an additional 7,681 shares during the period. Meeder Asset Management Inc.’s holdings in Commercial Metals were worth $723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CMC. Global Retirement Partners LLC raised its position in shares of Commercial Metals by 110.7% during the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 301 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Commercial Metals during the 4th quarter valued at about $54,000. Caitong International Asset Management Co. Ltd lifted its stake in Commercial Metals by 617.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock valued at $58,000 after buying an additional 716 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Commercial Metals in the 4th quarter worth $59,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Commercial Metals by 84.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after buying an additional 708 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $65.44 on Tuesday. The business has a 50-day simple moving average of $70.36 and a 200 day simple moving average of $70.55. Commercial Metals Company has a one year low of $49.66 and a one year high of $84.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.38 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts anticipate that Commercial Metals Company will post 6.63 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is currently 15.07%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price for the company. Weiss Ratings upgraded Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Bank of America reduced their price target on shares of Commercial Metals from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. JPMorgan Chase & Co. decreased their target price on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company increased their target price on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.45.

Insider Activity at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the acquisition, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

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.