Expect Equity LLC Invests $2.56 Million in Commercial Metals Company $CMC

Expect Equity LLC bought a new stake in Commercial Metals Company (NYSE:CMC) in the second quarter, HoldingsChannel reports. The firm bought 40,880 shares of the basic materials company’s stock, valued at approximately $2,565,000. Commercial Metals accounts for 1.7% of Expect Equity LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas grew its stake in Commercial Metals by 67.6% in the first quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Global Retirement Partners LLC bought a new position in Commercial Metals in the second quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its position in 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 valued at $58,000 after buying an additional 716 shares during the period. Los Angeles Capital Management LLC purchased a new position in Commercial Metals during the fourth quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Commercial Metals by 105.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock valued at $75,000 after buying an additional 626 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was acquired at an average price of $61.30 per share, with a total value of $504,499.00. Following the transaction, the chief executive officer owned 181,522 shares in the company, valued at $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John R. Mcpherson bought 1,390 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $71.92 per share, for a total transaction of $99,968.80. Following the purchase, the director directly owned 21,927 shares in the company, valued at approximately $1,576,989.84. This trade represents a 6.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

Commercial Metals Stock Performance

Shares of CMC opened at $66.94 on Wednesday. The business’s fifty day simple moving average is $68.29 and its two-hundred day simple moving average is $69.60. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 12 month low of $53.08 and a 12 month high of $84.87. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.37 and a beta of 1.52.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.03. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations 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 was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Research analysts anticipate that Commercial Metals Company will post 6.64 earnings per share for the current fiscal year.

Commercial Metals announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 15.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMC. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Commercial Metals in a research report on Thursday, August 6th. BNP Paribas Exane raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday, July 8th. Citigroup cut their price objective on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings raised shares of Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. Finally, UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $89.00 in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.18.

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.