Csenge Advisory Group Acquires New Stake in Commercial Metals Company $CMC

Csenge Advisory Group acquired a new stake in shares of Commercial Metals Company (NYSE:CMC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,346 shares of the basic materials company’s stock, valued at approximately $647,000.

Several other hedge funds have also bought and sold shares of the stock. Artemis Investment Management LLP bought a new stake in Commercial Metals during the fourth quarter valued at about $103,962,000. Merewether Investment Management LP bought a new stake in Commercial Metals during the third quarter valued at about $26,847,000. UBS Group AG grew its holdings in Commercial Metals by 41.8% during the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock valued at $87,130,000 after purchasing an additional 448,083 shares during the period. Millennium Management LLC grew its holdings in Commercial Metals by 44.2% during the third quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company’s stock valued at $58,054,000 after purchasing an additional 310,431 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Commercial Metals by 11,006.1% during the third quarter. Bessemer Group Inc. now owns 260,993 shares of the basic materials company’s stock valued at $14,948,000 after purchasing an additional 258,643 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays set a $75.00 price target on Commercial Metals in a report on Thursday. KeyCorp assumed coverage on Commercial Metals in a report on Wednesday, March 25th. They set a “sector weight” rating for the company. JPMorgan Chase & Co. cut their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.82.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $70.72 on Friday. The stock’s 50-day simple moving average is $65.82 and its 200-day simple moving average is $68.82. Commercial Metals Company has a 52 week low of $45.50 and a 52 week high of $84.87. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.41 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Commercial Metals’s revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that Commercial Metals Company will post 6.51 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were given a $0.20 dividend. The ex-dividend date was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is presently 16.04%.

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.