9,346 Shares in Commercial Metals Company $CMC Purchased by Csenge Advisory Group

Csenge Advisory Group bought a new position in Commercial Metals Company (NYSE:CMC) during the fourth quarter, Holdings Channel reports. The firm bought 9,346 shares of the basic materials company’s stock, valued at approximately $647,000.

A number of other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC lifted its position in shares of Commercial Metals by 2.6% in the fourth quarter. ProShare Advisors LLC now owns 24,803 shares of the basic materials company’s stock worth $1,717,000 after buying an additional 639 shares in the last quarter. Millennium Capital Advisors LLC purchased a new stake in shares of Commercial Metals in the fourth quarter worth about $235,000. Qsemble Capital Management LP lifted its position in shares of Commercial Metals by 118.6% in the fourth quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock worth $3,453,000 after buying an additional 27,062 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Commercial Metals in the fourth quarter worth about $213,000. Finally, Isthmus Partners LLC purchased a new stake in shares of Commercial Metals in the fourth quarter worth about $504,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMC. KeyCorp began coverage on Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. JPMorgan Chase & Co. decreased their target price on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company reduced their price objective on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Commercial Metals has a consensus rating of “Moderate Buy” and an average price target of $74.82.

Commercial Metals Trading Down 0.5%

Shares of NYSE CMC opened at $70.72 on Friday. The business’s 50 day moving average is $65.82 and its two-hundred day moving average is $68.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. Commercial Metals Company has a 1-year low of $45.50 and a 1-year high of $84.87. The stock has a market capitalization of $7.84 billion, a P/E ratio of 15.75, a PEG ratio of 0.41 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals Company will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 6th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.1%. Commercial Metals’s payout ratio is presently 16.04%.

About Commercial Metals

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.