Covea Finance Buys 22,500 Shares of Commercial Metals Company (NYSE:CMC)

Covea Finance lifted its position in Commercial Metals Company (NYSE:CMC - Free Report) by 36.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,500 shares of the basic materials company's stock after buying an additional 22,500 shares during the quarter. Covea Finance owned approximately 0.07% of Commercial Metals worth $3,888,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMC. Park Square Financial Group LLC bought a new position in shares of Commercial Metals in the fourth quarter worth $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the fourth quarter worth about $34,000. UMB Bank n.a. increased its stake in Commercial Metals by 51.9% in the 1st 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 last quarter. South Plains Financial Inc. purchased a new stake in shares of Commercial Metals in the 4th quarter valued at about $73,000. Finally, Fifth Third Bancorp boosted its position in shares of Commercial Metals by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 279 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMC has been the topic of several research analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday. UBS Group reissued a "neutral" rating on shares of Commercial Metals in a report on Friday. JPMorgan Chase & Co. initiated coverage on shares of Commercial Metals in a research report on Friday, May 30th. They set a "neutral" rating and a $52.00 price objective on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Commercial Metals in a report on Friday. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Commercial Metals presently has an average rating of "Hold" and an average target price of $58.13.

Insider Buying and Selling

In other news, Director John R. Mcpherson acquired 2,475 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now directly owns 15,141 shares in the company, valued at approximately $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Commercial Metals Trading Up 1.6%

Commercial Metals stock traded up $0.79 during mid-day trading on Tuesday, hitting $50.06. The company's stock had a trading volume of 1,614,643 shares, compared to its average volume of 987,573. The business has a 50 day moving average price of $46.71 and a 200-day moving average price of $48.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.82 and a quick ratio of 1.94. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 83.43, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27.

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 for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). Commercial Metals had a net margin of 0.94% and a return on equity of 8.23%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the firm posted $1.02 EPS. The company's revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, June 30th. Commercial Metals's dividend payout ratio is 120.00%.

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.