Commercial Metals Company $CMC Shares Purchased by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its stake in Commercial Metals Company (CMC) by 2.0% in Q1, now holding 568,688 shares valued at approximately $26.17 million.
• Commercial Metals Company reported Q2 earnings of $0.74 per share, missing estimates, with revenue of $2.02 billion, down 2.8% year-over-year.
• The company recently declared a $0.18 quarterly dividend, resulting in an annualized dividend yield of 1.2% despite a high payout ratio of 232.26%.

Systematic Financial Management LP raised its position in Commercial Metals Company (NYSE:CMC - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 568,688 shares of the basic materials company's stock after acquiring an additional 11,322 shares during the period. Systematic Financial Management LP owned approximately 0.50% of Commercial Metals worth $26,165,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMC shares. Wells Fargo & Company upgraded shares of Commercial Metals to a "strong-buy" rating in a research report on Thursday, August 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. UBS Group boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Morgan Stanley set a $57.50 price objective 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 assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.81.

Commercial Metals Price Performance

CMC stock traded down $0.8890 during trading on Monday, hitting $58.0310. The stock had a trading volume of 1,079,658 shares, compared to its average volume of 874,668. The company's 50 day moving average price is $52.63 and its two-hundred day moving average price is $48.72. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 187.20, a price-to-earnings-growth ratio of 2.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS 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 company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company earned $1.02 EPS. The company's revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were given 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 of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is 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.