Genus Capital Management Inc. Makes New $4.53 Million Investment in Commercial Metals Company $CMC

Genus Capital Management Inc. bought a new position in Commercial Metals Company (NYSE:CMC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 65,464 shares of the basic materials company’s stock, valued at approximately $4,531,000.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Commercial Metals by 430.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company’s stock worth $1,675,000 after acquiring an additional 23,738 shares during the last quarter. Merit Financial Group LLC bought a new position in Commercial Metals in the third quarter worth about $821,000. American Century Companies Inc. lifted its holdings in Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after acquiring an additional 112,267 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Commercial Metals by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock worth $50,670,000 after acquiring an additional 64,491 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Commercial Metals by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company’s stock worth $26,329,000 after acquiring an additional 56,705 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $71.87 on Monday. The firm’s 50 day moving average is $65.93 and its two-hundred day moving average is $68.91. Commercial Metals Company has a 52 week low of $45.50 and a 52 week high of $84.87. The firm has a market capitalization of $7.97 billion, a P/E ratio of 16.01, a PEG ratio of 0.42 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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 firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $0.26 EPS. Commercial Metals’s revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts anticipate that Commercial Metals Company will post 6.51 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a $0.20 dividend. The ex-dividend date was Monday, April 6th. This is an increase 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 16.04%.

Analyst Ratings Changes

CMC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. KeyCorp started coverage on shares of Commercial Metals in a report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Wells Fargo & Company dropped their price target on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $89.00 in a research note on Wednesday, May 13th. Finally, Zacks Research lowered shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.82.

Commercial Metals 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.