Cetera Investment Advisers Buys 362 Shares of Commercial Metals Company $CMC

Cetera Investment Advisers increased its stake in shares of Commercial Metals Company (NYSE:CMC) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,929 shares of the basic materials company’s stock after buying an additional 362 shares during the quarter. Cetera Investment Advisers’ holdings in Commercial Metals were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. lifted its position in shares of Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock worth $142,139,000 after buying an additional 666,886 shares during the period. First Trust Advisors LP raised its position in Commercial Metals by 34.1% in the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company’s stock valued at $87,040,000 after purchasing an additional 446,317 shares during the last quarter. Northern Trust Corp raised its position in Commercial Metals by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company’s stock valued at $86,794,000 after purchasing an additional 162,201 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Commercial Metals by 1.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,262,895 shares of the basic materials company’s stock valued at $62,640,000 after purchasing an additional 17,360 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Commercial Metals by 12.1% in the 4th quarter. Nuveen Asset Management LLC now owns 964,438 shares of the basic materials company’s stock valued at $47,836,000 after purchasing an additional 104,071 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.0%

NYSE CMC opened at $57.5110 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. 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 $51.92 and a 200-day moving average of $48.48. The stock has a market capitalization of $6.44 billion, a P/E ratio of 185.52, a price-to-earnings-growth ratio of 2.63 and a beta of 1.28.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.11). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm earned $1.02 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. Commercial Metals’s payout ratio is 232.26%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wells Fargo & Company upgraded Commercial Metals to a “strong-buy” rating in a research report on Thursday, August 14th. Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. UBS Group lifted their price objective on Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.81.

About Commercial Metals

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.