Vaughan Nelson Investment Management L.P. Purchases New Position in Commercial Metals Company $CMC

Vaughan Nelson Investment Management L.P. acquired a new position in Commercial Metals Company (NYSE:CMC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 949,610 shares of the basic materials company’s stock, valued at approximately $54,394,000. Vaughan Nelson Investment Management L.P. owned 0.86% of Commercial Metals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. boosted its holdings in shares of Commercial Metals by 282.3% in the second quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 511 shares during the period. Signaturefd LLC increased its position in shares of Commercial Metals by 51.4% during the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after buying an additional 302 shares during the period. UMB Bank n.a. lifted its holdings in shares of Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock worth $68,000 after buying an additional 610 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Commercial Metals by 84.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 708 shares during the period. Finally, Harbour Investments Inc. grew its stake in Commercial Metals by 17.5% during the second quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Up 2.6%

Shares of CMC stock opened at $74.61 on Wednesday. The business has a 50-day moving average price of $64.90 and a two-hundred day moving average price of $58.97. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $75.03. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.29 billion, a P/E ratio of 98.17, a price-to-earnings-growth ratio of 0.40 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.Commercial Metals’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. Equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, January 16th. Commercial Metals’s payout ratio is presently 94.74%.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson acquired 1,722 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was bought at an average price of $58.09 per share, with a total value of $100,030.98. Following the purchase, the director owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CMC shares. UBS Group reiterated a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th. Morgan Stanley upgraded Commercial Metals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $57.50 to $68.00 in a research report on Friday, October 24th. Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Citigroup raised Commercial Metals from a “neutral” rating to a “buy” rating and raised their price target for the company from $60.00 to $65.00 in a report on Friday, October 17th. Finally, Jefferies Financial Group upgraded Commercial Metals from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $78.00 in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.30.

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.