Creative Planning Boosts Holdings in Commercial Metals Company $CMC

Creative Planning raised its holdings in Commercial Metals Company (NYSE:CMC) by 52.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,301 shares of the basic materials company’s stock after purchasing an additional 18,677 shares during the period. Creative Planning’s holdings in Commercial Metals were worth $2,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CWM LLC lifted its stake in Commercial Metals by 266.1% in the 1st quarter. CWM LLC now owns 3,379 shares of the basic materials company’s stock valued at $155,000 after buying an additional 2,456 shares in the last quarter. Choreo LLC lifted its position in shares of Commercial Metals by 2.1% in the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock valued at $509,000 after acquiring an additional 228 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Commercial Metals by 8.3% during the first quarter. Avantax Advisory Services Inc. now owns 6,566 shares of the basic materials company’s stock valued at $302,000 after acquiring an additional 503 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Commercial Metals by 5.5% during the first quarter. Cetera Investment Advisers now owns 6,929 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 362 shares during the last quarter. Finally, Vestcor Inc increased its position in Commercial Metals by 110.5% during the 1st quarter. Vestcor Inc now owns 19,791 shares of the basic materials company’s stock worth $911,000 after purchasing an additional 10,391 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th. Wall Street Zen downgraded shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Jefferies Financial Group set a $70.00 target price on shares of Commercial Metals and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, October 8th. Finally, Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $65.00 in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.20.

Commercial Metals Stock Performance

Shares of CMC stock opened at $59.30 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 78.03, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The company has a 50 day moving average price of $58.75 and a 200 day moving average price of $54.42.

Commercial Metals (NYSE:CMC) last announced 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 analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. Sell-side analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 1,722 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was acquired at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the acquisition, the director owned 6,722 shares of the company’s stock, valued at $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

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.