Candriam S.C.A. Buys Shares of 33,332 Commercial Metals Company $CMC

Candriam S.C.A. purchased a new stake in shares of Commercial Metals Company (NYSE:CMC) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 33,332 shares of the basic materials company’s stock, valued at approximately $2,048,000.

Several other institutional investors have also recently made changes to their positions in CMC. State Street Corp raised its position in Commercial Metals by 1.5% during the fourth quarter. State Street Corp now owns 6,361,477 shares of the basic materials company’s stock valued at $440,341,000 after purchasing an additional 91,104 shares in the last quarter. Boston Partners increased its position in shares of Commercial Metals by 1.9% during the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after purchasing an additional 67,139 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Commercial Metals by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company’s stock valued at $202,626,000 after buying an additional 86,749 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Commercial Metals by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after buying an additional 76,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Commercial Metals by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,592,131 shares of the basic materials company’s stock valued at $110,207,000 after buying an additional 32,941 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup decreased their price target on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. KeyCorp initiated coverage on shares of Commercial Metals in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Jefferies Financial Group upgraded shares of Commercial Metals from a “buy” rating to a “buy” rating in a research report on Friday, June 5th. Wall Street Zen downgraded shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, Barclays assumed coverage on shares of Commercial Metals in a research report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price target for the company. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and an average target price of $79.45.

Insider Activity at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt acquired 8,230 shares of the stock in a transaction dated Friday, July 10th. The shares were purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the purchase, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. This trade represents a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.62% of the stock is owned by insiders.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $66.14 on Wednesday. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.37 and a beta of 1.54. The company has a 50-day moving average price of $70.75 and a 200-day moving average price of $70.67. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 12 month low of $49.66 and a 12 month high of $84.87.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, equities analysts anticipate that Commercial Metals Company will post 6.63 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Commercial Metals’s dividend payout ratio is presently 15.07%.

About Commercial Metals

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.