Segall Bryant & Hamill LLC Takes $1.05 Million Position in Commercial Metals Company $CMC

Segall Bryant & Hamill LLC purchased a new stake in Commercial Metals Company (NYSE:CMC) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,030 shares of the basic materials company’s stock, valued at approximately $1,046,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in 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 purchasing an additional 301 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Commercial Metals during the fourth quarter worth about $54,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 buying an additional 716 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Commercial Metals in the 4th quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC increased its position in Commercial Metals by 105.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 626 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $75.78 on Thursday. 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’s 50 day moving average is $69.88 and its two-hundred day moving average is $70.29. Commercial Metals Company has a twelve month low of $51.52 and a twelve month high of $84.87. The firm has a market capitalization of $8.38 billion, a PE ratio of 14.27, a P/E/G ratio of 0.42 and a beta of 1.52.

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, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Research analysts anticipate that Commercial Metals Company will post 6.64 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 yield of 1.1%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s dividend payout ratio is currently 15.07%.

Commercial Metals declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup decreased their price objective on Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. cut their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.45.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt acquired 8,230 shares of the business’s stock in a transaction on Friday, July 10th. The stock was purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the completion of the transaction, the chief executive officer owned 181,522 shares of the company’s stock, valued at $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 available through this hyperlink. Insiders own 0.62% of the company’s stock.

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.