SG Americas Securities LLC Increases Stock Position in Commercial Metals (NYSE:CMC)

SG Americas Securities LLC boosted its stake in Commercial Metals (NYSE:CMC) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,412 shares of the basic materials company’s stock after acquiring an additional 8,388 shares during the period. SG Americas Securities LLC’s holdings in Commercial Metals were worth $1,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in Commercial Metals by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,987 shares of the basic materials company’s stock valued at $337,000 after acquiring an additional 201 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Commercial Metals by 1.1% in the third quarter. Janney Montgomery Scott LLC now owns 23,471 shares of the basic materials company’s stock valued at $1,160,000 after acquiring an additional 247 shares during the last quarter. Affinity Wealth Management LLC lifted its position in Commercial Metals by 1.4% in the second quarter. Affinity Wealth Management LLC now owns 18,216 shares of the basic materials company’s stock valued at $959,000 after acquiring an additional 256 shares during the last quarter. Inspire Investing LLC lifted its position in Commercial Metals by 4.4% in the third quarter. Inspire Investing LLC now owns 6,237 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 261 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Commercial Metals by 2.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 12,365 shares of the basic materials company’s stock valued at $605,000 after acquiring an additional 285 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 142,806 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $49.89, for a total transaction of $7,124,591.34. Following the transaction, the chairman now directly owns 213,379 shares in the company, valued at $10,645,478.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at $635,653.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Barbara Smith sold 142,806 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $49.89, for a total transaction of $7,124,591.34. Following the completion of the sale, the chairman now directly owns 213,379 shares in the company, valued at approximately $10,645,478.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,385 shares of company stock worth $14,317,006. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CMC. BMO Capital Markets lifted their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.25.

Commercial Metals Trading Up 0.8 %

Shares of Commercial Metals stock opened at $58.77 on Friday. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. The company’s 50-day simple moving average is $53.78 and its 200-day simple moving average is $49.41. Commercial Metals has a 52-week low of $39.85 and a 52-week high of $59.81. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 10.20 and a beta of 1.32.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Commercial Metals will post 5.22 earnings per share for the current year.

Commercial Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st will be given a dividend of $0.18 per share. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 28th. Commercial Metals’s dividend payout ratio is presently 11.11%.

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.