Versor Investments LP Has $900,000 Holdings in Commercial Metals Company $CMC

Key Points

• Versor Investments LP increased its stake in Commercial Metals Company by 39.2%, now owning 19,568 shares worth approximately $900,000.
• Commercial Metals reported $0.74 EPS for the most recent quarter, missing analysts' expectations by $0.11.
• The company announced a quarterly dividend of $0.18 per share, with a current dividend yield of 1.3%.

Versor Investments LP raised its holdings in Commercial Metals Company (NYSE:CMC - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,568 shares of the basic materials company's stock after purchasing an additional 5,514 shares during the quarter. Versor Investments LP's holdings in Commercial Metals were worth $900,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

CMC has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Wells Fargo & Company raised Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. Morgan Stanley set a $57.50 price target on Commercial Metals in a research note on Wednesday, June 25th. Finally, UBS Group increased their price target on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. One 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.81.

Commercial Metals Trading Up 4.7%

Commercial Metals stock traded up $2.6420 during mid-day trading on Friday, hitting $58.9520. 1,097,630 shares of the company's stock were exchanged, compared to its average volume of 866,948. The company's 50 day simple moving average is $52.44 and its 200-day simple moving average is $48.67. 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 $6.60 billion, a P/E ratio of 190.17, a PEG ratio of 2.72 and a beta of 1.28. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results 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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the business earned $1.02 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders 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 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.