Sei Investments Co. Buys 67,142 Shares of Commercial Metals Company $CMC

Key Points

• Sei Investments increased its Commercial Metals stake by 64.2% in the first quarter, purchasing 67,142 shares and bringing its holdings to 171,759 shares worth approximately $10.6 million. Institutional investors collectively own 86.9% of CMC.
• Commercial Metals reported a quarterly earnings beat, posting $1.73 in EPS versus $1.70 expected and $2.48 billion in revenue, up 22.9% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $79.45.
• The company pays a quarterly dividend of $0.20 per share, representing a $0.80 annualized payout and 1.2% yield; CEO Peter R. Matt also purchased 8,230 shares for roughly $504,500.

Sei Investments Co. grew its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 64.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,759 shares of the basic materials company's stock after purchasing an additional 67,142 shares during the period. Sei Investments Co. owned approximately 0.15% of Commercial Metals worth $10,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Citizens Bank & Trust Co. acquired a new stake in shares of Commercial Metals in the 1st quarter valued at about $1,248,000. First Trust Advisors LP raised its stake in Commercial Metals by 4.8% during the 1st quarter. First Trust Advisors LP now owns 24,460 shares of the basic materials company's stock worth $1,503,000 after buying an additional 1,114 shares during the period. Meeder Asset Management Inc. raised its stake in Commercial Metals by 187.8% during the 1st quarter. Meeder Asset Management Inc. now owns 11,770 shares of the basic materials company's stock worth $723,000 after buying an additional 7,681 shares during the period. KBC Group NV boosted its holdings in Commercial Metals by 1,920.6% in the first quarter. KBC Group NV now owns 70,114 shares of the basic materials company's stock worth $4,307,000 after acquiring an additional 66,644 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in Commercial Metals in the first quarter worth approximately $8,957,000. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMC shares. Weiss Ratings upgraded Commercial Metals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Wall Street Zen cut Commercial Metals from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. BMO Capital Markets cut their target price on Commercial Metals from $80.00 to $77.00 and set a "market perform" rating on the stock in a report on Monday, June 29th. Jefferies Financial Group raised shares of Commercial Metals from a "buy" rating to a "buy" rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Commercial Metals from $83.00 to $78.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $79.45.

Commercial Metals Stock Performance

Shares of CMC opened at $68.81 on Friday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.40 and a beta of 1.54. Commercial Metals Company has a 52 week low of $49.66 and a 52 week high of $84.87. The stock has a 50 day moving average price of $69.95 and a two-hundred day moving average price of $70.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. Equities analysts forecast that Commercial Metals Company will post 6.64 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, July 6th. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals's dividend payout ratio (DPR) is 15.07%.

Insiders Place Their Bets

In related news, CEO Peter R. Matt acquired 8,230 shares of the company's stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of $61.30 per share, for a total transaction of $504,499.00. Following the purchase, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company's stock.

Commercial Metals Profile

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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