Commercial Metals Company (NYSE:CMC) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 17.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 543,207 shares of the basic materials company's stock after purchasing an additional 81,740 shares during the period. Royce & Associates LP owned 0.48% of Commercial Metals worth $24,993,000 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. Isthmus Partners LLC lifted its position in Commercial Metals by 3.2% in the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock valued at $340,000 after acquiring an additional 226 shares during the last quarter. Choreo LLC increased its stake in shares of Commercial Metals by 2.1% during the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock worth $509,000 after acquiring an additional 228 shares during the period. Mariner LLC increased its stake in shares of Commercial Metals by 0.9% during the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after acquiring an additional 232 shares during the period. UMB Bank n.a. increased its stake in shares of Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock worth $36,000 after acquiring an additional 268 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Commercial Metals by 21.2% during the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock worth $73,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.50.

Commercial Metals Trading Down 2.1%

Shares of CMC stock traded down $1.16 during mid-day trading on Thursday, reaching $53.08. The company's stock had a trading volume of 107,326 shares, compared to its average volume of 1,124,482. The company's 50 day simple moving average is $49.67 and its 200-day simple moving average is $47.91. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5.94 billion, a PE ratio of 171.44, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. Commercial Metals's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. On average, research analysts predict that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend 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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