298,871 Shares in Commercial Metals Company $CMC Acquired by Thomist Capital Management LP

Thomist Capital Management LP bought a new stake in Commercial Metals Company (NYSE:CMC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 298,871 shares of the basic materials company’s stock, valued at approximately $14,950,000. Commercial Metals accounts for 4.6% of Thomist Capital Management LP’s investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Paulson Wealth Management Inc. raised its holdings in Commercial Metals by 5.2% in the 2nd quarter. Paulson Wealth Management Inc. now owns 4,674 shares of the basic materials company’s stock valued at $229,000 after buying an additional 229 shares during the period. National Bank of Canada FI boosted its position in shares of Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares during the period. Atlas Private Wealth Advisors increased its holdings in Commercial Metals by 1.6% in the 2nd quarter. Atlas Private Wealth Advisors now owns 16,299 shares of the basic materials company’s stock valued at $797,000 after purchasing an additional 249 shares during the last quarter. Fulton Bank N.A. raised its position in Commercial Metals by 3.2% in the second quarter. Fulton Bank N.A. now owns 8,309 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 261 shares during the period. Finally, Harbour Investments Inc. lifted its stake in Commercial Metals by 17.5% during the second quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 273 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John R. Mcpherson purchased 1,722 shares of the company’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the purchase, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This trade represents a 34.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Commercial Metals Trading Down 0.8%

NYSE CMC opened at $63.60 on Wednesday. The stock has a market capitalization of $7.06 billion, a PE ratio of 83.68, a price-to-earnings-growth ratio of 0.43 and a beta of 1.49. The firm has a 50 day moving average of $59.42 and a two-hundred day moving average of $55.18. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.56. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Commercial Metals’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Commercial Metals from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group set a $70.00 target price on Commercial Metals and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Bank of America boosted their price target on shares of Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. The Goldman Sachs Group raised their price objective on shares of Commercial Metals from $69.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley raised shares of Commercial Metals from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $57.50 to $68.00 in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.20.

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.