Commercial Metals Company $CMC Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Commercial Metals Company (NYSE:CMC) by 30.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,839 shares of the basic materials company’s stock after purchasing an additional 9,102 shares during the period. Hsbc Holdings PLC’s holdings in Commercial Metals were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Qsemble Capital Management LP raised its position in Commercial Metals by 118.6% during the fourth quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock valued at $3,453,000 after acquiring an additional 27,062 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Commercial Metals by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock valued at $50,670,000 after acquiring an additional 64,491 shares during the period. Russell Investments Group Ltd. boosted its position in Commercial Metals by 14.1% during the third quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company’s stock worth $26,329,000 after purchasing an additional 56,705 shares in the last quarter. Moore Capital Management LP increased its position in shares of Commercial Metals by 47.7% in the third quarter. Moore Capital Management LP now owns 163,348 shares of the basic materials company’s stock valued at $9,357,000 after buying an additional 52,736 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Commercial Metals by 45.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 217,082 shares of the basic materials company’s stock valued at $12,434,000 after acquiring an additional 67,864 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 4.1%

NYSE:CMC opened at $62.59 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.35 and a beta of 1.54. Commercial Metals Company has a 52 week low of $49.66 and a 52 week high of $84.87. The stock’s fifty day moving average is $70.93 and its two-hundred day moving average is $70.75.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.Commercial Metals’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Research analysts anticipate that Commercial Metals Company will post 6.59 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is currently 15.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CMC shares. BMO Capital Markets cut their target price on shares of Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a research note on Monday, June 29th. Zacks Research downgraded shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Friday, June 12th. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Wells Fargo & Company upped their target price on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.45.

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.