6,207 Shares in Commercial Metals Company $CMC Purchased by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. purchased 6,207 shares of Commercial Metals Company (NYSE: CMC), valued at approximately $304,000, during the 2nd quarter.
• Bank of America raised its price target for CMC from $60.00 to $70.00, indicating a positive outlook, while the consensus rating for the stock is currently a "Moderate Buy."
• Commercial Metals reported quarterly earnings of $1.37 per share, surpassing analysts' expectations and representing a 5.9% increase in revenue year-over-year.

Foster & Motley Inc. purchased a new position in Commercial Metals Company (NYSE:CMC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,207 shares of the basic materials company's stock, valued at approximately $304,000.

Several other institutional investors have also modified their holdings of CMC. GAMMA Investing LLC lifted its stake in shares of Commercial Metals by 25.6% in the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after acquiring an additional 669 shares in the last quarter. SG Americas Securities LLC raised its stake in Commercial Metals by 460.1% during the first quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after buying an additional 10,172 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Commercial Metals by 12.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after buying an additional 2,846 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Commercial Metals by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after buying an additional 325 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Commercial Metals by 26.0% during the first quarter. Blue Trust Inc. now owns 7,012 shares of the basic materials company's stock valued at $323,000 after buying an additional 1,447 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMC shares. Bank of America upped their price objective on Commercial Metals from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wall Street Zen upgraded Commercial Metals from a "buy" rating to a "strong-buy" rating in a research note on Monday. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research note on Wednesday, June 25th. JPMorgan Chase & Co. upped their price objective on Commercial Metals from $54.00 to $63.00 and gave the company a "neutral" rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Commercial Metals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.75.

Commercial Metals Stock Up 3.7%

Shares of Commercial Metals stock opened at $57.39 on Monday. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The business's 50 day simple moving average is $57.86 and its 200-day simple moving average is $51.50. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 75.51, a PEG ratio of 1.93 and a beta of 1.32. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the company posted $0.90 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 30th. Commercial Metals's dividend payout ratio is 94.74%.

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.

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals Company (NYSE:CMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.