Crescent Grove Advisors LLC Invests $277,000 in Commercial Metals Company (NYSE:CMC)

Crescent Grove Advisors LLC acquired a new position in shares of Commercial Metals Company (NYSE:CMC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,990 shares of the basic materials company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Commercial Metals by 12.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 266,489 shares of the basic materials company's stock worth $12,520,000 after purchasing an additional 29,505 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Commercial Metals by 23.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 64,568 shares of the basic materials company's stock worth $2,971,000 after purchasing an additional 12,369 shares during the period. Independent Solutions Wealth Management LLC grew its stake in shares of Commercial Metals by 71.2% during the 1st quarter. Independent Solutions Wealth Management LLC now owns 7,780 shares of the basic materials company's stock worth $358,000 after purchasing an additional 3,235 shares during the period. Harbour Capital Advisors LLC grew its stake in shares of Commercial Metals by 62.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 13,830 shares of the basic materials company's stock worth $636,000 after purchasing an additional 5,305 shares during the period. Finally, Covea Finance grew its stake in shares of Commercial Metals by 36.3% during the 1st quarter. Covea Finance now owns 84,500 shares of the basic materials company's stock worth $3,888,000 after purchasing an additional 22,500 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling at Commercial Metals

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

Commercial Metals Trading Up 0.0%

Shares of CMC stock opened at $50.09 on Friday. The stock's fifty day moving average is $47.34 and its two-hundred day moving average is $47.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.94 and a current ratio of 2.86. The firm has a market capitalization of $5.61 billion, a P/E ratio of 161.58, a PEG ratio of 2.06 and a beta of 1.27. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. Research analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th will be issued a $0.18 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Commercial Metals's payout ratio is currently 232.26%.

Analyst Ratings Changes

CMC has been the topic of a number of recent analyst reports. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Morgan Stanley set a $57.50 target price on Commercial Metals in a research report on Wednesday. BMO Capital Markets reiterated a "market perform" rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $57.21.

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.

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals Company (NYSE:CMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.