Campbell & CO Investment Adviser LLC Buys New Stake in Commercial Metals Company $CMC

Key Points

• Campbell & CO Investment Adviser LLC acquired a new stake of 29,805 shares in Commercial Metals Company (CMC), valued at approximately $1,371,000 during the 1st quarter.
• Research firms have upgraded their ratings on CMC, with UBS Group raising the price target from $48 to $56, while maintaining a "neutral" rating.
• Commercial Metals Company announced a quarterly dividend of $0.18 per share, reflecting a dividend yield of 1.3% and a payout ratio of 232.26%.

Campbell & CO Investment Adviser LLC bought a new stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,805 shares of the basic materials company's stock, valued at approximately $1,371,000.

A number of other hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. lifted its position 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 buying an additional 539,309 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock valued at $142,139,000 after buying an additional 666,886 shares in the last quarter. Northern Trust Corp grew its holdings in Commercial Metals by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company's stock valued at $86,794,000 after buying an additional 162,201 shares in the last quarter. American Century Companies Inc. grew its holdings in Commercial Metals by 86.1% during the 1st quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company's stock valued at $73,030,000 after buying an additional 734,265 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Commercial Metals by 37.1% during the 1st quarter. Invesco Ltd. now owns 1,568,021 shares of the basic materials company's stock valued at $72,145,000 after buying an additional 424,313 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CMC. UBS Group raised their price target on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.81.

Commercial Metals Stock Down 0.8%

Shares of NYSE:CMC opened at $57.58 on Wednesday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The business has a 50 day simple moving average of $52.81 and a two-hundred day simple moving average of $48.78. The firm has a market capitalization of $6.44 billion, a PE ratio of 185.73, a price-to-earnings-growth ratio of 2.68 and a beta of 1.28. 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 (NYSE:CMC - Get Free Report) last announced its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter last year, the firm earned $1.02 EPS. The firm's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced 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. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Commercial Metals's payout ratio is 232.26%.

Commercial Metals 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.

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