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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its position in Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after buying an additional 244 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Commercial Metals in the 4th quarter valued at $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the 4th quarter valued at $34,000. UMB Bank n.a. grew its position in Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after buying an additional 268 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Commercial Metals in the 1st quarter valued at $47,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMC has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. BMO Capital Markets restated a "market perform" rating and set a $55.00 target price (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.81.

Commercial Metals Price Performance

Shares of NYSE:CMC traded up $2.6420 during midday trading on Friday, hitting $58.9520. 1,097,630 shares of the stock were exchanged, compared to its average volume of 866,948. The stock has a market cap of $6.60 billion, a P/E ratio of 190.17, a PEG ratio of 2.72 and a beta of 1.28. 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 twelve month low of $37.92 and a twelve month high of $64.53. The company has a 50 day moving average price of $52.44 and a 200-day moving average price of $48.67.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (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 analyst estimates of $2.04 billion. During the same period last year, the firm earned $1.02 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Commercial Metals's payout ratio is presently 232.26%.

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.