Commercial Metals Company $CMC Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Commercial Metals Company (NYSE: CMC) by **11.8%**, owning approximately **0.05%** of the company worth **$2.67 million** after the purchase of 6,144 shares.
• Several other institutional investors have also boosted their holdings in Commercial Metals, with **American Century Companies Inc.** leading with an **86.1%** increase during the first quarter.
• Commercial Metals Company recently declared a quarterly dividend of **$0.18** per share, representing a **1.2% yield** and a payout ratio of **232.26%**.

Intech Investment Management LLC lifted its stake in Commercial Metals Company (NYSE:CMC - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,994 shares of the basic materials company's stock after purchasing an additional 6,144 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Commercial Metals worth $2,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMC. Nuveen LLC acquired a new stake in shares of Commercial Metals in the first quarter valued at approximately $44,345,000. Pacer Advisors Inc. increased its holdings in shares of Commercial Metals by 4,372.6% in the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company's stock valued at $34,944,000 after purchasing an additional 742,503 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Commercial Metals by 86.1% in the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company's stock valued at $73,030,000 after purchasing an additional 734,265 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Commercial Metals by 27.5% in the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock valued at $142,139,000 after purchasing an additional 666,886 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Commercial Metals by 14.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company's stock valued at $191,461,000 after purchasing an additional 539,309 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CMC. BMO Capital Markets reaffirmed 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. Wall Street Zen cut Commercial Metals from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. JPMorgan Chase & Co. increased their price target on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Finally, Bank of America increased their price objective on Commercial Metals from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Commercial Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.39.

Commercial Metals Trading Down 2.5%

Commercial Metals stock traded down $1.46 during mid-day trading on Friday, hitting $58.21. The company's stock had a trading volume of 2,869,608 shares, compared to its average volume of 894,835. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The stock's fifty day moving average is $55.54 and its two-hundred day moving average is $49.80. The firm has a market capitalization of $6.52 billion, a PE ratio of 187.76, a price-to-earnings-growth ratio of 2.09 and a beta of 1.33. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company's quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

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.