Madison Asset Management LLC Takes Position in Commercial Metals Company (NYSE:CMC)

Madison Asset Management LLC acquired a new position in shares of Commercial Metals Company (NYSE:CMC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,500 shares of the basic materials company's stock, valued at approximately $253,000.

Several other large investors have also recently bought and sold shares of the company. Choreo LLC lifted its stake in shares of Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock valued at $509,000 after purchasing an additional 228 shares during the period. South Dakota Investment Council acquired a new position in shares of Commercial Metals in the 1st quarter valued at $1,125,000. Easterly Investment Partners LLC lifted its stake in shares of Commercial Metals by 7.1% in the 1st quarter. Easterly Investment Partners LLC now owns 424,280 shares of the basic materials company's stock valued at $19,521,000 after purchasing an additional 28,283 shares during the period. Bailard Inc. lifted its stake in shares of Commercial Metals by 99.8% in the 1st quarter. Bailard Inc. now owns 8,407 shares of the basic materials company's stock valued at $387,000 after purchasing an additional 4,200 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Commercial Metals by 43.2% in the 1st quarter. Verdence Capital Advisors LLC now owns 10,240 shares of the basic materials company's stock valued at $471,000 after purchasing an additional 3,089 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CMC. Morgan Stanley set a $57.50 price target on Commercial Metals in a research note on Wednesday, June 25th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. 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 research note on Monday, July 14th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and a consensus target price of $57.50.

Commercial Metals Trading Down 0.6%

Commercial Metals stock traded down $0.33 during mid-day trading on Monday, hitting $53.00. 100,488 shares of the company's stock were exchanged, compared to its average volume of 1,122,907. The firm has a market capitalization of $5.93 billion, a P/E ratio of 170.89, a PEG ratio of 2.16 and a beta of 1.26. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The company's 50 day simple moving average is $49.97 and its 200-day simple moving average is $47.99.

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 business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. On average, equities analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were issued 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 1.36%. Commercial Metals's dividend payout ratio (DPR) is 232.26%.

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.