Commercial Metals Company $CMC Stock Position Decreased by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP reduced its stake in Commercial Metals by 3.7% in the first quarter, selling 20,087 shares and ending with 528,233 shares valued at about $32.4 million.
• Commercial Metals recently reported better-than-expected quarterly results, with EPS of $1.73 versus estimates of $1.70 and revenue of $2.48 billion, up 22.9% year over year.
• The company also paid a quarterly dividend of $0.20 per share, which annualizes to $0.80 and yields about 1.2% at the time of the report.

Systematic Financial Management LP trimmed its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 528,233 shares of the basic materials company's stock after selling 20,087 shares during the quarter. Systematic Financial Management LP owned approximately 0.48% of Commercial Metals worth $32,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CMC. Artemis Investment Management LLP bought a new position in Commercial Metals during the fourth quarter valued at approximately $103,962,000. Norges Bank bought a new stake in Commercial Metals in the fourth quarter worth approximately $97,983,000. Encompass Capital Advisors LLC bought a new stake in Commercial Metals in the fourth quarter worth approximately $41,523,000. Merewether Investment Management LP acquired a new position in shares of Commercial Metals during the 3rd quarter worth $26,847,000. Finally, UBS Group AG increased its stake in shares of Commercial Metals by 41.8% during the 3rd quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company's stock worth $87,130,000 after purchasing an additional 448,083 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt purchased 8,230 shares of the stock in a transaction dated Friday, July 10th. The shares were bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the transaction, the chief executive officer owned 181,522 shares in the company, valued at $11,127,298.60. This trade represents a 4.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

CMC has been the subject of several analyst reports. Zacks Research raised shares of Commercial Metals from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Citigroup lowered their target price on shares of Commercial Metals from $85.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Barclays started coverage on Commercial Metals in a report on Thursday, May 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Wells Fargo & Company boosted their price target on Commercial Metals from $77.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. decreased their price target on Commercial Metals from $83.00 to $78.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.45.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $67.96 on Friday. The firm has a fifty day simple moving average of $70.18 and a 200-day simple moving average of $70.51. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 1-year low of $49.66 and a 1-year high of $84.87. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.39 and a beta of 1.54.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. Commercial Metals's revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. On average, sell-side analysts expect that Commercial Metals Company will post 6.63 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, July 6th. Commercial Metals's dividend payout ratio is 15.07%.

About Commercial Metals

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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