Commercial Metals Company $CMC Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Commercial Metals Company by 17.1%, acquiring an additional 35,569 shares during the first quarter, bringing its total to 243,609 shares valued at approximately $11.2 million.
• Commercial Metals Company's stock has received various ratings from analysts, with an average rating of "Moderate Buy" and an average target price of $58.81.
• The company has recently announced a quarterly dividend of $0.18 per share, representing an annualized dividend yield of 1.3%, despite a high payout ratio of 232.26%.

Russell Investments Group Ltd. raised its position in Commercial Metals Company (NYSE:CMC - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,609 shares of the basic materials company's stock after purchasing an additional 35,569 shares during the quarter. Russell Investments Group Ltd. owned 0.22% of Commercial Metals worth $11,208,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMC. Nuveen LLC purchased a new position in shares of Commercial Metals in the 1st quarter worth about $44,345,000. Pacer Advisors Inc. raised its holdings in shares of Commercial Metals by 4,372.6% in the 1st quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company's stock worth $34,944,000 after purchasing an additional 742,503 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Commercial Metals by 27.5% in the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock worth $142,139,000 after purchasing an additional 666,886 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Commercial Metals by 15,350.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock worth $28,178,000 after purchasing an additional 564,418 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Commercial Metals by 440.3% in the 1st quarter. Deutsche Bank AG now owns 572,748 shares of the basic materials company's stock worth $26,352,000 after purchasing an additional 466,743 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 4.7%

NYSE CMC traded up $2.6420 during mid-day trading on Friday, reaching $58.9520. 1,097,630 shares of the company's stock traded hands, compared to its average volume of 874,668. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a fifty day simple moving average of $52.44 and a 200-day simple moving average of $48.66. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 190.17, a P/E/G ratio of 2.72 and a beta of 1.28.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share 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 business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business earned $1.02 EPS. Commercial Metals's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is 232.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMC shares. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. UBS Group raised their target price on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their target price on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Finally, BMO Capital Markets reiterated 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 analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Commercial Metals presently 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.