Commercial Metals Company (NYSE:CMC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Commercial Metals Company (NYSE:CMC - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 385,527 shares of the basic materials company's stock after purchasing an additional 22,682 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.34% of Commercial Metals worth $17,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Commercial Metals in the fourth quarter valued at about $69,261,000. Franklin Resources Inc. increased its holdings in shares of Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after acquiring an additional 893,094 shares during the period. Balyasny Asset Management L.P. increased its stake in Commercial Metals by 15,350.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock valued at $28,178,000 after buying an additional 564,418 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Commercial Metals by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock worth $78,185,000 after purchasing an additional 495,163 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock worth $87,040,000 after purchasing an additional 446,317 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Up 0.6%

CMC traded up $0.34 during midday trading on Monday, reaching $53.02. 1,068,192 shares of the company were exchanged, compared to its average volume of 996,741. 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. The company's fifty day moving average price is $49.46 and its 200 day moving average price is $47.84. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 171.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.26.

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 (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 the consensus estimate of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. As a group, analysts expect that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CMC shares. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. UBS Group reaffirmed a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $57.50.

Commercial Metals 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.