Commercial Metals Company (NYSE:CMC) Position Raised by LS Investment Advisors LLC

LS Investment Advisors LLC boosted its position in Commercial Metals Company (NYSE:CMC) by 20.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,197 shares of the basic materials company’s stock after buying an additional 1,548 shares during the period. LS Investment Advisors LLC’s holdings in Commercial Metals were worth $179,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock worth $102,000 after buying an additional 2,142 shares in the last quarter. Elkfork Partners LLC increased its stake in Commercial Metals by 13.6% in the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock valued at $105,000 after buying an additional 660 shares during the period. Point72 Asia Hong Kong Ltd increased its stake in Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after buying an additional 5,182 shares during the period. Meadow Creek Investment Management LLC increased its stake in Commercial Metals by 13.6% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $134,000 after buying an additional 840 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in Commercial Metals by 13.6% in the first quarter. Glen Harbor Capital Management LLC now owns 8,500 shares of the basic materials company’s stock valued at $162,000 after buying an additional 1,020 shares during the period. 91.37% of the stock is owned by institutional investors and hedge funds.

Shares of Commercial Metals Company (NYSE CMC) opened at 17.31 on Friday. The company’s 50-day moving average is $19.17 and its 200-day moving average is $19.21. Commercial Metals Company has a 12-month low of $14.57 and a 12-month high of $24.64. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 26.75 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.11. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts predict that Commercial Metals Company will post $0.90 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, July 6th were issued a $0.12 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.77%. Commercial Metals’s dividend payout ratio is presently 73.85%.

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Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Clarkson Capital reaffirmed a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price objective on shares of Commercial Metals in a report on Wednesday, June 28th. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $22.00 in a report on Tuesday, June 13th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $20.00 price objective (up from $19.00) on shares of Commercial Metals in a report on Sunday, June 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.75.

About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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