AlphaMark Advisors LLC Decreases Stock Holdings in Commercial Metals (NYSE:CMC)

AlphaMark Advisors LLC trimmed its position in Commercial Metals (NYSE:CMC) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,663 shares of the basic materials company’s stock after selling 421 shares during the period. AlphaMark Advisors LLC’s holdings in Commercial Metals were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC grew its stake in Commercial Metals by 193.1% during the 4th quarter. First Eagle Investment Management LLC now owns 154,329 shares of the basic materials company’s stock worth $7,723,000 after buying an additional 101,675 shares during the last quarter. Cim LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at approximately $2,120,000. Russell Investments Group Ltd. boosted its stake in Commercial Metals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after purchasing an additional 20,751 shares in the last quarter. Federated Hermes Inc. increased its stake in Commercial Metals by 2.3% during the 4th quarter. Federated Hermes Inc. now owns 260,740 shares of the basic materials company’s stock valued at $13,047,000 after purchasing an additional 5,972 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Commercial Metals by 61.9% in the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after buying an additional 25,642 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

NYSE CMC traded up $0.23 on Friday, hitting $54.34. The company had a trading volume of 65,958 shares, compared to its average volume of 871,214. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The company has a market capitalization of $6.25 billion, a PE ratio of 11.37 and a beta of 1.17. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The company’s fifty day moving average price is $54.46 and its 200-day moving average price is $54.91.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, analysts predict that Commercial Metals will post 4.71 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Monday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, July 1st. Commercial Metals’s payout ratio is 15.00%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CMC. Bank of America cut their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Commercial Metals currently has an average rating of “Hold” and an average target price of $60.50.

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.