Edgestream Partners L.P. Takes $3.41 Million Position in Commercial Metals Company (NYSE:CMC)

Edgestream Partners L.P. purchased a new position in shares of Commercial Metals Company (NYSE:CMC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 74,033 shares of the basic materials company's stock, valued at approximately $3,406,000. Edgestream Partners L.P. owned 0.07% of Commercial Metals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Commercial Metals by 12.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after acquiring an additional 2,846 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Commercial Metals by 25.6% during the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after buying an additional 669 shares during the period. SG Americas Securities LLC grew its position in shares of Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after buying an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Commercial Metals by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after buying an additional 325 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Commercial Metals by 9.5% in the fourth quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock valued at $784,000 after acquiring an additional 1,369 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMC. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. lifted their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. UBS Group reaffirmed a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price target (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Commercial Metals currently has a consensus rating of "Hold" and an average target price of $57.50.

Commercial Metals Trading Up 0.2%

NYSE CMC traded up $0.13 during trading on Friday, hitting $52.63. The stock had a trading volume of 734,538 shares, compared to its average volume of 996,454. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 169.77, a P/E/G ratio of 2.14 and a beta of 1.26. The stock has a 50 day simple moving average of $49.46 and a 200 day simple moving average of $47.84. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.11). The firm had revenue of $2.02 billion for 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 business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 EPS. Sell-side analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio is presently 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.