AlphaQuest LLC Has $51,000 Stock Position in Commercial Metals Company $CMC

Key Points

• AlphaQuest LLC significantly reduced its stake in Commercial Metals Company by 93.5%, selling 15,970 shares and leaving it with only 1,109 shares valued at $51,000.
• Commercial Metals reported a disappointing EPS of $0.74 for the latest quarter, falling short of analysts' expectations of $0.85, and its revenue declined by 2.8% year-over-year.
• The company declared a quarterly dividend of $0.18 per share, representing a 1.3% yield, despite having a high payout ratio of 232.26%.

AlphaQuest LLC decreased its position in Commercial Metals Company (NYSE:CMC - Free Report) by 93.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,109 shares of the basic materials company's stock after selling 15,970 shares during the quarter. AlphaQuest LLC's holdings in Commercial Metals were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Fuller & Thaler Asset Management Inc. increased its stake in shares of Commercial Metals by 14.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company's stock worth $191,461,000 after purchasing an additional 539,309 shares during the period. Victory Capital Management Inc. increased its stake in shares of Commercial Metals by 27.5% in the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock worth $142,139,000 after purchasing an additional 666,886 shares during the period. American Century Companies Inc. increased its stake in shares of Commercial Metals by 86.1% in the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company's stock worth $73,030,000 after purchasing an additional 734,265 shares during the period. Invesco Ltd. increased its stake in shares of Commercial Metals by 37.1% in the first quarter. Invesco Ltd. now owns 1,568,021 shares of the basic materials company's stock worth $72,145,000 after purchasing an additional 424,313 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Commercial Metals by 1.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,262,895 shares of the basic materials company's stock worth $62,640,000 after purchasing an additional 17,360 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CMC shares. Wall Street Zen raised Commercial Metals from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. UBS Group upped their target price on shares of Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company upgraded shares of Commercial Metals to a "strong-buy" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.81.

Commercial Metals Stock Down 2.2%

CMC stock traded down $1.33 during trading hours on Tuesday, reaching $58.46. 380,317 shares of the stock were exchanged, compared to its average volume of 1,082,146. The firm's 50-day moving average is $54.35 and its 200-day moving average is $49.18. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 188.82, a PEG ratio of 1.79 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the company posted $1.02 EPS. Commercial Metals's revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were given a dividend of $0.18 per share. The ex-dividend date was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Commercial Metals's dividend payout ratio (DPR) is 232.26%.

Commercial Metals Company Profile

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.