JPMorgan Chase & Co. Purchases 64,491 Shares of Commercial Metals Company $CMC

JPMorgan Chase & Co. grew its position in shares of Commercial Metals Company (NYSE:CMC) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 884,604 shares of the basic materials company’s stock after buying an additional 64,491 shares during the period. JPMorgan Chase & Co. owned 0.80% of Commercial Metals worth $50,670,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its position in Commercial Metals by 19.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 48,040 shares of the basic materials company’s stock worth $2,752,000 after purchasing an additional 7,718 shares during the period. Versor Investments LP lifted its stake in shares of Commercial Metals by 2.7% during the 3rd quarter. Versor Investments LP now owns 11,677 shares of the basic materials company’s stock valued at $669,000 after buying an additional 308 shares in the last quarter. Profund Advisors LLC boosted its holdings in Commercial Metals by 7.1% in the 3rd quarter. Profund Advisors LLC now owns 4,593 shares of the basic materials company’s stock worth $263,000 after buying an additional 304 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Commercial Metals by 34.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,886 shares of the basic materials company’s stock valued at $1,483,000 after buying an additional 6,631 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Commercial Metals by 4.7% during the third quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMC shares. The Goldman Sachs Group reiterated a “buy” rating and set a $84.00 price objective on shares of Commercial Metals in a research note on Tuesday, December 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $68.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Jefferies Financial Group set a $85.00 target price on shares of Commercial Metals and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Citigroup boosted their price target on shares of Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Commercial Metals Price Performance

CMC opened at $74.54 on Thursday. The company has a current ratio of 4.47, a quick ratio of 3.70 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $8.27 billion, a P/E ratio of 19.21, a PEG ratio of 0.40 and a beta of 1.49. The stock has a 50-day moving average price of $75.55 and a 200-day moving average price of $65.37. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.Commercial Metals’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 18.56%.

Insider Activity

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares of the company’s stock, valued at $4,228,813.60. The trade was a 32.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis V. Arriola acquired 2,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was bought at an average price of $74.69 per share, with a total value of $149,380.00. Following the transaction, the director directly owned 9,238 shares of the company’s stock, valued at approximately $689,986.22. The trade was a 27.63% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is currently owned by insiders.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.