Sei Investments Co. Boosts Stake in Commercial Metals Company $CMC

Sei Investments Co. grew its position in shares of Commercial Metals Company (NYSE:CMC) by 64.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,759 shares of the basic materials company’s stock after buying an additional 67,142 shares during the quarter. Sei Investments Co.’s holdings in Commercial Metals were worth $10,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMC. Global Retirement Partners LLC grew its holdings in shares of Commercial Metals by 110.7% in the fourth 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 in the last quarter. V Square Quantitative Management LLC bought a new stake in Commercial Metals during the fourth quarter worth $54,000. Caitong International Asset Management Co. Ltd boosted its position 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 worth $58,000 after purchasing an additional 716 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Commercial Metals in the fourth quarter worth $59,000. Finally, EverSource Wealth Advisors LLC grew its stake in Commercial Metals by 84.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 708 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMC shares. BNP Paribas Exane raised Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, July 8th. Morgan Stanley boosted their price target on shares of Commercial Metals from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, June 22nd. Zacks Research upgraded shares of Commercial Metals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.45.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $68.81 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $69.95 and a two-hundred day simple moving average of $70.35. Commercial Metals Company has a 1-year low of $49.66 and a 1-year high of $84.87. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.40 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (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 for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. Analysts anticipate that Commercial Metals Company will post 6.64 earnings per share for the current year.

Commercial Metals Announces Dividend

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

Insider Transactions at Commercial Metals

In other news, CEO Peter R. Matt acquired 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average cost of $61.30 per share, for a total transaction of $504,499.00. Following the purchase, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.