Commercial Metals Company (NYSE:CMC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in Commercial Metals Company (NYSE:CMC - Free Report) by 27.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,089,313 shares of the basic materials company's stock after acquiring an additional 666,886 shares during the period. Victory Capital Management Inc. owned about 2.73% of Commercial Metals worth $142,139,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CMC. Park Square Financial Group LLC purchased a new position in shares of Commercial Metals in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the fourth quarter valued at about $34,000. UMB Bank n.a. lifted its position in shares of Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Commercial Metals in the first quarter valued at about $47,000. Finally, South Plains Financial Inc. purchased a new position in shares of Commercial Metals in the fourth quarter valued at about $73,000. Institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

Shares of NYSE:CMC traded up $0.13 during trading on Friday, reaching $52.63. 734,538 shares of the company's stock traded hands, compared to its average volume of 996,454. 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 Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The firm has a market cap of $5.89 billion, a PE ratio of 169.77, a P/E/G ratio of 2.14 and a beta of 1.26. The company has a 50-day simple moving average of $49.46 and a 200-day simple moving average of $47.84.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share 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%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 earnings per share. As a group, analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors 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 1.37%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio is presently 232.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CMC shares. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. JPMorgan Chase & Co. upped their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. UBS Group restated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $57.50.

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.