Rise Advisors LLC Buys Shares of 477 Commercial Metals (NYSE:CMC)

Rise Advisors LLC purchased a new stake in Commercial Metals (NYSE:CMC) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 477 shares of the basic materials company’s stock, valued at approximately $28,000.

Several other hedge funds have also modified their holdings of CMC. Norges Bank acquired a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $94,722,000. Victory Capital Management Inc. lifted its holdings in shares of Commercial Metals by 241.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock valued at $90,564,000 after buying an additional 1,279,617 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Commercial Metals by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock valued at $615,159,000 after buying an additional 487,792 shares during the period. First Trust Advisors LP lifted its holdings in shares of Commercial Metals by 59.1% in the 4th quarter. First Trust Advisors LP now owns 617,188 shares of the basic materials company’s stock valued at $30,884,000 after buying an additional 229,266 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Commercial Metals by 54.1% in the 4th quarter. Allianz Asset Management GmbH now owns 529,427 shares of the basic materials company’s stock valued at $26,493,000 after buying an additional 185,796 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets lifted their price objective on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd.

Commercial Metals Stock Performance

Shares of CMC stock opened at $52.67 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The stock has a fifty day moving average price of $54.74 and a 200 day moving average price of $53.22. The stock has a market cap of $6.09 billion, a PE ratio of 9.14 and a beta of 1.27. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 EPS. Sell-side analysts forecast that Commercial Metals will post 4.85 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, July 1st. Commercial Metals’s payout ratio is 12.50%.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the transaction, the chairman now owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.