First Wilshire Securities Management Inc. Has $299,000 Stock Position in Commercial Metals Company $CMC

Key Points

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First Wilshire Securities Management Inc. decreased its position in Commercial Metals Company (NYSE:CMC - Free Report) by 43.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,500 shares of the basic materials company's stock after selling 5,000 shares during the quarter. First Wilshire Securities Management Inc.'s holdings in Commercial Metals were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in Commercial Metals by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock worth $1,189,000 after purchasing an additional 2,846 shares during the period. GAMMA Investing LLC grew its holdings in shares of Commercial Metals by 25.6% during the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after purchasing an additional 669 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Commercial Metals by 460.1% during the first quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock worth $570,000 after purchasing an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Commercial Metals by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock worth $612,000 after purchasing an additional 325 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Commercial Metals by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 385,527 shares of the basic materials company's stock valued at $17,738,000 after acquiring an additional 22,682 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Price Performance

Shares of NYSE CMC traded up $2.6420 during trading hours on Friday, hitting $58.9520. 1,097,630 shares of the stock were exchanged, compared to its average volume of 866,948. 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 has a market cap of $6.60 billion, a PE ratio of 190.17, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. The company's fifty day simple moving average is $52.44 and its two-hundred day simple moving average is $48.67. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.02 billion during 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%. Commercial Metals's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. On average, sell-side analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors 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 annualized dividend and a yield of 1.2%. Commercial Metals's dividend payout ratio is presently 232.26%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMC. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. UBS Group boosted their target price on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Wells Fargo & Company upgraded Commercial Metals to a "strong-buy" rating in a report on Thursday, August 14th. Finally, BMO Capital Markets restated a "market perform" rating and set a $55.00 target price (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $58.81.

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.