Sequoia Financial Advisors LLC Buys New Stake in Commercial Metals Company $CMC

Key Points

• Sequoia Financial Advisors LLC has acquired a new stake in Commercial Metals Company, purchasing 7,394 shares valued at approximately $362,000 in the second quarter.
• Insider transactions reported that Director John R. McPherson bought 1,722 shares for about $100,031, increasing his stake by 34.44%.
• Analysts have shown a mixed outlook for the firm, with price targets ranging from $55.00 to $70.00 and ratings varying from "hold" to "buy" on Commercial Metals stock.

Sequoia Financial Advisors LLC bought a new stake in Commercial Metals Company (NYSE:CMC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,394 shares of the basic materials company's stock, valued at approximately $362,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI grew its holdings in shares of Commercial Metals by 80.3% in the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Commercial Metals by 51.4% in the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 302 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Commercial Metals in the first quarter valued at $47,000. UMB Bank n.a. grew its holdings in shares of Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company's stock valued at $68,000 after purchasing an additional 610 shares in the last quarter. Finally, Amundi grew its holdings in shares of Commercial Metals by 13.3% in the first quarter. Amundi now owns 2,480 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 291 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 1,722 shares of the company's stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the purchase, the director owned 6,722 shares of the company's stock, valued at approximately $390,480.98. The trade was a 34.44% 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. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Commercial Metals from $63.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Citigroup upgraded Commercial Metals from a "neutral" rating to a "buy" rating and raised their price target for the stock from $60.00 to $65.00 in a research report on Friday, October 17th. Bank of America raised their price target on Commercial Metals from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. 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 research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.85.

Commercial Metals Price Performance

Shares of CMC stock opened at $61.98 on Wednesday. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 81.55, a PEG ratio of 1.98 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The stock's 50-day simple moving average is $58.10 and its 200-day simple moving average is $51.69.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The company's revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals's payout ratio is presently 94.74%.

About Commercial Metals

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.

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