Crescent Grove Advisors LLC Takes Position in Commercial Metals Company (NYSE:CMC)

Crescent Grove Advisors LLC acquired a new stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,990 shares of the basic materials company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the fourth quarter worth $34,000. UMB Bank n.a. boosted its position in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock worth $36,000 after purchasing an additional 268 shares in the last quarter. South Plains Financial Inc. acquired a new position in shares of Commercial Metals during the 4th quarter worth $73,000. Finally, Fifth Third Bancorp increased its holdings in shares of Commercial Metals by 21.2% in the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 279 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on CMC shares. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Morgan Stanley set a $57.50 target price on Commercial Metals in a research report on Wednesday, June 25th. Finally, UBS Group reissued a "neutral" rating on shares of Commercial Metals in a report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Commercial Metals presently has a consensus rating of "Hold" and a consensus target price of $57.21.

Insider Buying and Selling

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director owned 15,141 shares of the company's stock, valued at $611,999.22. This represents a 19.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company's stock.

Commercial Metals Price Performance

NYSE:CMC traded up $1.25 during trading hours on Wednesday, reaching $51.96. 1,063,596 shares of the company traded hands, compared to its average volume of 990,422. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The stock has a market cap of $5.82 billion, a P/E ratio of 167.63, a P/E/G ratio of 2.02 and a beta of 1.26. The firm's 50-day moving average is $47.64 and its 200-day moving average is $47.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The company 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%. The firm's revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. Equities 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 declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.39%. Commercial Metals's dividend payout ratio is currently 232.26%.

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.