Intech Investment Management LLC Has $9.90 Million Stake in Commercial Metals Company $CMC

Intech Investment Management LLC boosted its stake in Commercial Metals Company (NYSE:CMC) by 195.8% during the 4th quarter, HoldingsChannel reports. The fund owned 143,076 shares of the basic materials company’s stock after acquiring an additional 94,714 shares during the quarter. Intech Investment Management LLC’s holdings in Commercial Metals were worth $9,904,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Commercial Metals by 430.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company’s stock valued at $1,675,000 after acquiring an additional 23,738 shares in the last quarter. Merit Financial Group LLC bought a new stake in Commercial Metals in the 3rd quarter valued at $821,000. American Century Companies Inc. lifted its position in Commercial Metals by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after acquiring an additional 112,267 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Commercial Metals by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock valued at $50,670,000 after acquiring an additional 64,491 shares in the last quarter. Finally, Qsemble Capital Management LP lifted its position in Commercial Metals by 118.6% in the 4th quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock valued at $3,453,000 after acquiring an additional 27,062 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Down 1.0%

Shares of NYSE:CMC opened at $76.21 on Friday. The company’s 50-day moving average price is $67.27 and its two-hundred day moving average price is $69.45. 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 one year low of $45.50 and a one year high of $84.87. The stock has a market capitalization of $8.45 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.46 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS 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 business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts forecast that Commercial Metals Company will post 6.45 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a dividend of $0.20 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 annualized dividend and a yield of 1.0%. Commercial Metals’s payout ratio is presently 16.04%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMC. UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $89.00 in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Commercial Metals in a research report on Friday. Wells Fargo & Company cut their price objective on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Finally, Zacks Research cut shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.10.

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.