United Services Automobile Association Invests $355,000 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 stake in Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,690 shares of the basic materials company's stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMC. Fuller & Thaler Asset Management Inc. increased its holdings in Commercial Metals by 14.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company's stock valued at $191,461,000 after acquiring an additional 539,309 shares in the last quarter. Victory Capital Management Inc. lifted its position in Commercial Metals by 27.5% during the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock valued at $142,139,000 after buying an additional 666,886 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Commercial Metals by 86.1% during the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company's stock worth $73,030,000 after purchasing an additional 734,265 shares in the last quarter. Invesco Ltd. lifted its position in shares of Commercial Metals by 37.1% during the first quarter. Invesco Ltd. now owns 1,568,021 shares of the basic materials company's stock worth $72,145,000 after purchasing an additional 424,313 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Commercial Metals by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company's stock worth $47,552,000 after buying an additional 56,875 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Trading Down 2.4%

NYSE CMC traded down $1.41 on Friday, hitting $57.86. 624,623 shares of the company were exchanged, compared to its average volume of 834,723. The company's 50 day moving average price is $54.88 and its 200-day moving average price is $49.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. The firm has a market capitalization of $6.48 billion, a P/E ratio of 186.65, a price-to-earnings-growth ratio of 1.75 and a beta of 1.33. Commercial Metals Company has a twelve month low of $37.92 and a twelve 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 (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.11). The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.Commercial Metals's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. Analysts predict that Commercial Metals Company will post 3.09 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 9th. Shareholders of record on Monday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, June 30th. Commercial Metals's payout ratio is presently 232.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CMC shares. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a research note on Wednesday, June 25th. Wells Fargo & Company raised shares of Commercial Metals to a "strong-buy" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, UBS Group upped their price objective on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.81.

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.