AlphaQuest LLC Purchases 10,101 Shares of Commercial Metals Company $CMC

AlphaQuest LLC raised its position in shares of Commercial Metals Company (NYSE:CMC) by 910.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,210 shares of the basic materials company’s stock after purchasing an additional 10,101 shares during the period. AlphaQuest LLC’s holdings in Commercial Metals were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ethic Inc. grew its holdings in Commercial Metals by 7.7% during the second quarter. Ethic Inc. now owns 5,999 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 428 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Commercial Metals by 12.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 16,594 shares of the basic materials company’s stock valued at $831,000 after purchasing an additional 1,851 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Commercial Metals in the second quarter worth $671,000. Foster & Motley Inc. bought a new position in shares of Commercial Metals in the second quarter worth $304,000. Finally, Easterly Investment Partners LLC boosted its holdings in shares of Commercial Metals by 5.7% in the second quarter. Easterly Investment Partners LLC now owns 448,642 shares of the basic materials company’s stock worth $21,943,000 after acquiring an additional 24,362 shares during the period. 86.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John R. Mcpherson purchased 1,722 shares of the stock in a transaction on Monday, October 20th. The shares were acquired at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.

Commercial Metals Price Performance

NYSE:CMC opened at $60.49 on Wednesday. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 79.59, a P/E/G ratio of 1.87 and a beta of 1.32. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.53. The stock has a fifty day moving average of $58.44 and a 200 day moving average of $52.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78.

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

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Commercial Metals’s dividend payout ratio (DPR) is presently 94.74%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America raised their price target on Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 15th. The Goldman Sachs Group raised their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Zacks Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Citigroup raised Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $60.00 to $65.00 in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on Commercial Metals from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.80.

Commercial Metals 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.