Commercial Metals Company $CMC Shares Acquired by Hoey Investments Inc.

Key Points

• Hoey Investments Inc. increased its stake in Commercial Metals Company by 17.4% in Q2, owning 30,296 shares valued at approximately $1.48 million after purchasing additional shares.
• Commercial Metals reported a net margin of 0.48% for the last quarter, with earnings per share of $0.74, missing analyst estimates by $0.11.
• Institutional investors now hold 86.90% of Commercial Metals' stock, indicating strong interest from the finance sector in the company.

Hoey Investments Inc. increased its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,296 shares of the basic materials company's stock after purchasing an additional 4,487 shares during the period. Commercial Metals accounts for approximately 0.2% of Hoey Investments Inc.'s portfolio, making the stock its 24th largest position. Hoey Investments Inc.'s holdings in Commercial Metals were worth $1,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMC. Cetera Investment Advisers grew its stake in shares of Commercial Metals by 36.0% during the fourth quarter. Cetera Investment Advisers now owns 6,567 shares of the basic materials company's stock worth $326,000 after purchasing an additional 1,738 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Commercial Metals by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 330,054 shares of the basic materials company's stock worth $16,371,000 after purchasing an additional 38,383 shares in the last quarter. Integrated Advisors Network LLC grew its stake in shares of Commercial Metals by 9.3% during the fourth quarter. Integrated Advisors Network LLC now owns 8,972 shares of the basic materials company's stock worth $445,000 after purchasing an additional 760 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the fourth quarter worth $34,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Commercial Metals during the fourth quarter worth $4,475,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Performance

Shares of CMC opened at $57.62 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 185.85, a PEG ratio of 2.04 and a beta of 1.33. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The company's 50 day simple moving average is $55.65 and its 200 day simple moving average is $49.92.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share 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 company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the business earned $1.02 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CMC shares. JPMorgan Chase & Co. boosted their target price on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Wells Fargo & Company boosted their price target on shares of Commercial Metals from $61.00 to $64.00 and gave the company an "overweight" rating in a research report on Friday. BMO Capital Markets reissued a "market perform" rating and issued a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Commercial Metals from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Commercial Metals presently has an average rating of "Moderate Buy" and an average price target of $60.39.

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.

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