Hsbc Holdings PLC Increases Stock Holdings in Commercial Metals Company $CMC

Hsbc Holdings PLC increased its position in shares of Commercial Metals Company (NYSE:CMC) by 222.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,076 shares of the basic materials company’s stock after purchasing an additional 86,237 shares during the period. Hsbc Holdings PLC’s holdings in Commercial Metals were worth $7,609,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CMC. Global Retirement Partners LLC boosted its holdings in Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 301 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Commercial Metals by 617.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after buying an additional 716 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Commercial Metals during the 4th quarter valued at approximately $59,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Commercial Metals by 84.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 708 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Down 0.2%

Commercial Metals stock opened at $67.96 on Friday. The company has a market capitalization of $7.52 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. Commercial Metals Company has a fifty-two week low of $49.66 and a fifty-two week high of $84.87. The firm has a 50 day moving average price of $70.18 and a 200 day moving average price of $70.51.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. Research analysts expect that Commercial Metals Company will post 6.63 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio is presently 15.07%.

Insider Buying and Selling

In other news, CEO Peter R. Matt bought 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average cost of $61.30 per share, for a total transaction of $504,499.00. Following the acquisition, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at $11,127,298.60. The trade was a 4.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CMC shares. Wells Fargo & Company increased their price objective on Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Bank of America decreased their price target on Commercial Metals from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Barclays initiated coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price target for the company. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. Finally, Citigroup reduced 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.45.

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.