SG Americas Securities LLC Has $1.51 Million Holdings in Commercial Metals Company $CMC

Key Points

• SG Americas Securities LLC boosted its stake in Commercial Metals by 1,074% in the first quarter, ending with 24,560 shares valued at about $1.51 million.
• Commercial Metals reported better-than-expected quarterly results, with EPS of $1.73 versus estimates of $1.70 and revenue of $2.48 billion, up 22.9% year over year.
• The company declared a quarterly dividend of $0.20 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $80.10.

SG Americas Securities LLC increased its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 1,074.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,560 shares of the basic materials company's stock after acquiring an additional 22,468 shares during the quarter. SG Americas Securities LLC's holdings in Commercial Metals were worth $1,509,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in Commercial Metals by 0.6% in the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company's stock valued at $1,606,000 after purchasing an additional 133 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in Commercial Metals by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company's stock worth $339,000 after acquiring an additional 149 shares during the period. Corient Private Wealth LLC raised its holdings in Commercial Metals by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company's stock valued at $1,630,000 after acquiring an additional 155 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Commercial Metals by 2.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company's stock valued at $380,000 after acquiring an additional 188 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company's stock valued at $235,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMC. Barclays assumed coverage on Commercial Metals in a report on Thursday, May 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Morgan Stanley boosted their price target on Commercial Metals from $83.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of Commercial Metals from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They set a "neutral" rating and a $74.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Commercial Metals from $77.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.10.

Commercial Metals Price Performance

CMC stock opened at $61.58 on Friday. The company has a 50 day simple moving average of $71.59 and a 200 day simple moving average of $71.04. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.35 and a beta of 1.54. Commercial Metals Company has a 1 year low of $49.66 and a 1 year high of $84.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54.

Commercial Metals (NYSE:CMC - Get Free Report) last issued 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The company's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. Research analysts anticipate that Commercial Metals Company will post 6.54 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, July 6th. Commercial Metals's dividend payout ratio is presently 15.07%.

About Commercial Metals

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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