United Services Automobile Association Takes $355,000 Position in Commercial Metals Company $CMC

Key Points

• United Services Automobile Association acquired a new position in Commercial Metals Company with 7,690 shares valued at approximately $355,000.
• The company reported a net margin of 0.48% and earnings per share of $0.74, missing analysts' expectations of $0.85.
• Commercial Metals Company announced a quarterly dividend of $0.18 per share, resulting in an annualized dividend yield of 1.2%.

United Services Automobile Association acquired a new position in shares of Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,690 shares of the basic materials company's stock, valued at approximately $355,000.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Commercial Metals by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after buying an additional 2,846 shares during the period. GAMMA Investing LLC increased its holdings in shares of Commercial Metals by 25.6% during the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after buying an additional 669 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Commercial Metals by 460.1% during the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock worth $570,000 after buying an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Commercial Metals by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock worth $612,000 after buying an additional 325 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Commercial Metals by 124.3% during the 1st quarter. Millennium Management LLC now owns 926,718 shares of the basic materials company's stock worth $42,638,000 after buying an additional 513,630 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMC. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Wall Street Zen downgraded Commercial Metals from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Finally, Bank of America upped their price target on shares of Commercial Metals from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.06.

Commercial Metals Stock Up 1.1%

NYSE:CMC traded up $0.65 on Wednesday, reaching $58.85. The stock had a trading volume of 166,546 shares, compared to its average volume of 1,072,864. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $55.16 and a 200 day moving average of $49.56. The stock has a market cap of $6.59 billion, a P/E ratio of 190.55, a price-to-earnings-growth ratio of 1.76 and a beta of 1.33. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The firm had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. On average, research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

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.