Leonteq Securities AG Makes New $775,000 Investment in Commercial Metals Company $CMC

Leonteq Securities AG bought a new position in Commercial Metals Company (NYSE:CMC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 11,201 shares of the basic materials company’s stock, valued at approximately $775,000.

A number of other large investors have also recently bought and sold shares of CMC. Royal Bank of Canada lifted its holdings in Commercial Metals by 1.4% in the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after acquiring an additional 1,219 shares during the last quarter. Amundi lifted its holdings in Commercial Metals by 13.3% in the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Commercial Metals by 614.9% in the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Commercial Metals by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after acquiring an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock worth $2,453,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CMC has been the topic of a number of recent 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 on the stock in a report on Tuesday, April 14th. Wells Fargo & Company cut their target price on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, March 27th. UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Wall Street Zen cut shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.82.

Commercial Metals Stock Performance

CMC opened at $71.87 on Friday. The business’s 50 day moving average is $65.93 and its 200-day moving average is $68.84. The stock has a market cap of $7.97 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.41 and a beta of 1.49. 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 twelve month low of $45.50 and a twelve month high of $84.87.

Commercial Metals (NYSE:CMC) last released its quarterly 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). The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. On average, analysts predict that Commercial Metals Company will post 6.51 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 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 1.1%. 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 dividend payout ratio is presently 16.04%.

Commercial Metals Company 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.