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 lifted its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 39.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,568 shares of the basic materials company's stock after purchasing an additional 5,514 shares during the period. Versor Investments LP's holdings in Commercial Metals were worth $900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMC. Nuveen LLC bought a new stake in shares of Commercial Metals in the first quarter worth $44,345,000. Pacer Advisors Inc. increased its stake in Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company's stock valued at $34,944,000 after purchasing an additional 742,503 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 valued at $73,030,000 after acquiring an additional 734,265 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of 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 acquiring an additional 666,886 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Commercial Metals by 15,350.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock valued at $28,178,000 after acquiring an additional 564,418 shares during the period. Institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

NYSE CMC traded up $2.6420 on Friday, reaching $58.9520. The company's stock had a trading volume of 1,097,630 shares, compared to its average volume of 874,668. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The stock has a market cap of $6.60 billion, a PE ratio of 190.17, a PEG ratio of 2.72 and a beta of 1.28. The firm's 50 day moving average is $52.44 and its two-hundred day moving average is $48.66.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results 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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Commercial Metals's revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Commercial Metals Company will post 3.09 EPS 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 issued a $0.18 dividend. 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 presently 232.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CMC shares. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a report on Wednesday, June 25th. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Finally, Wells Fargo & Company raised shares of Commercial Metals to a "strong-buy" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.81.

Commercial Metals 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.