MQS Management LLC Takes $234,000 Position in Commercial Metals Company (NYSE:CMC)

MQS Management LLC purchased a new stake in Commercial Metals Company (NYSE:CMC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,077 shares of the basic materials company's stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in shares of Commercial Metals during the 4th quarter worth about $33,000. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals in the fourth quarter valued at approximately $34,000. UMB Bank n.a. increased 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 purchasing an additional 268 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Commercial Metals in the first quarter worth about $47,000. Finally, South Plains Financial Inc. bought a new stake in shares of Commercial Metals in the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

CMC has been the subject of several recent research reports. Morgan Stanley set a $57.50 price target on Commercial Metals in a research report on Wednesday, June 25th. BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. JPMorgan Chase & Co. increased their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group restated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $57.50.

Commercial Metals Price Performance

Shares of NYSE CMC traded up $0.34 during midday trading on Friday, hitting $52.84. 109,756 shares of the company's stock were exchanged, compared to its average volume of 992,170. The business's fifty day moving average price is $49.33 and its two-hundred day moving average price is $47.84. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 170.10, a PEG ratio of 2.08 and a beta of 1.26. 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 Company has a 12-month low of $37.92 and a 12-month high of $64.53.

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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the business posted $1.02 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts forecast that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. Commercial Metals's dividend payout ratio is currently 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.