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

Edgestream Partners L.P. acquired a new stake in Commercial Metals Company (NYSE:CMC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,033 shares of the basic materials company's stock, valued at approximately $3,406,000. Edgestream Partners L.P. owned approximately 0.07% of Commercial Metals as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Commercial Metals during the fourth quarter worth about $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. lifted its position in 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 buying an additional 268 shares during the period. Wayfinding Financial LLC purchased a new position in Commercial Metals during the first quarter worth about $47,000. Finally, South Plains Financial Inc. purchased a new position in Commercial Metals during the fourth quarter worth about $73,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 2.6%

NYSE:CMC traded up $1.35 on Thursday, hitting $52.59. 875,262 shares of the stock were exchanged, compared to its average volume of 995,624. The stock has a market cap of $5.89 billion, a PE ratio of 169.63, a PEG ratio of 2.08 and a beta of 1.26. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $49.20 and a 200-day moving average of $47.81. 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 posted its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business posted $1.02 EPS. Commercial Metals's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Commercial Metals's dividend payout ratio (DPR) is currently 232.26%.

Analyst Upgrades and Downgrades

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

About Commercial Metals

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.