Glenmede Trust Co. NA Has $1.46 Million Holdings in Commercial Metals Company $CMC

Glenmede Trust Co. NA lessened its holdings in Commercial Metals Company (NYSE:CMC) by 22.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,715 shares of the basic materials company’s stock after selling 6,684 shares during the quarter. Glenmede Trust Co. NA’s holdings in Commercial Metals were worth $1,457,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC grew its position in Commercial Metals by 110.7% in the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 301 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Commercial Metals during the 4th quarter worth about $54,000. Caitong International Asset Management Co. Ltd lifted its position in Commercial Metals by 617.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after buying an additional 716 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Commercial Metals by 105.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock worth $75,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CMC shares. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. BMO Capital Markets reduced their price target on Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a research report on Monday, June 29th. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $89.00 in a research note on Wednesday, May 13th. BNP Paribas Exane raised Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus target price of $79.45.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt purchased 8,230 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the purchase, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Commercial Metals Stock Up 4.3%

Shares of CMC stock opened at $75.78 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. The firm’s 50-day moving average is $69.88 and its 200-day moving average is $70.29. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.42 and a beta of 1.52. Commercial Metals Company has a 52-week low of $51.52 and a 52-week high of $84.87.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.Commercial Metals’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Sell-side analysts predict that Commercial Metals Company will post 6.64 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Commercial Metals’s payout ratio is presently 15.07%.

Commercial Metals declared that its board has approved a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.