Harbour Capital Advisors LLC Has $636,000 Holdings in Commercial Metals Company (NYSE:CMC)

Harbour Capital Advisors LLC boosted its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,830 shares of the basic materials company's stock after buying an additional 5,305 shares during the quarter. Harbour Capital Advisors LLC's holdings in Commercial Metals were worth $636,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CMC. Park Square Financial Group LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at $33,000. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at $34,000. UMB Bank n.a. raised 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 valued at $36,000 after acquiring an additional 268 shares during the last quarter. South Plains Financial Inc. bought a new stake in shares of Commercial Metals during the 4th quarter valued at $73,000. Finally, Fifth Third Bancorp raised its position in shares of Commercial Metals by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CMC shares. JPMorgan Chase & Co. started coverage on shares of Commercial Metals in a research report on Friday, May 30th. They set a "neutral" rating and a $52.00 target price for the company. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a research report on Wednesday. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $57.21.

Commercial Metals Trading Up 0.0%

Shares of CMC traded up $0.00 during trading hours on Friday, reaching $50.09. The stock had a trading volume of 1,405,979 shares, compared to its average volume of 991,346. The company has a quick ratio of 1.94, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The firm has a 50-day moving average of $47.34 and a 200 day moving average of $47.95. The company has a market cap of $5.61 billion, a P/E ratio of 161.58, a P/E/G ratio of 2.07 and a beta of 1.27.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the company earned $1.02 EPS. Commercial Metals's quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side 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 will be paid on Wednesday, July 9th. Investors of record on Monday, June 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, June 30th. Commercial Metals's payout ratio is presently 232.26%.

Insider Buying and Selling

In related news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

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.