Charles Schwab Investment Management Inc. Acquires 3,300 Shares of Commercial Metals Company (NYSE:CMC)

Charles Schwab Investment Management Inc. increased its holdings in Commercial Metals Company (NYSE:CMC) by 0.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,466,308 shares of the basic materials company’s stock after buying an additional 3,300 shares during the period. Charles Schwab Investment Management Inc. owned about 1.30% of Commercial Metals worth $67,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals during the fourth quarter worth $33,000. Heck Capital Advisors LLC acquired a new position in Commercial Metals during the 4th quarter valued at about $34,000. UMB Bank n.a. increased its position in Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after buying an additional 268 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Commercial Metals in the first quarter valued at about $47,000. Finally, South Plains Financial Inc. acquired a new stake in Commercial Metals in the fourth quarter worth about $73,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

NYSE CMC opened at $57.17 on Friday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 184.43, a PEG ratio of 2.69 and a beta of 1.28. The stock’s fifty day moving average price is $51.53 and its 200 day moving average price is $48.33.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Commercial Metals’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals’s dividend payout ratio is presently 232.26%.

Analyst Ratings Changes

Several equities analysts recently commented on CMC shares. UBS Group reaffirmed a “neutral” rating and issued a $56.00 price objective (up from $48.00) on shares of Commercial Metals in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Wolfe Research upgraded shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their target price on Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.81.

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.