22,199 Shares in Commercial Metals Company $CMC Purchased by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC acquired a new position in Commercial Metals Company (NYSE:CMC) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 22,199 shares of the basic materials company’s stock, valued at approximately $1,393,000.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE bought a new position in shares of Commercial Metals during the second quarter worth approximately $84,320,000. Freestone Grove Partners LP acquired a new stake in shares of Commercial Metals in the second quarter valued at approximately $1,850,000. Gallagher Fiduciary Advisors LLC bought a new stake in shares of Commercial Metals in the second quarter valued at approximately $967,000. Man Group plc bought a new stake in shares of Commercial Metals in the second quarter valued at approximately $3,286,000. Finally, Jupiter Topco LLC acquired a new stake in Commercial Metals during the second quarter worth approximately $36,800,000. Institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Peter R. Matt bought 8,230 shares of the business’s stock in a transaction on Friday, July 10th. The shares were purchased at an average cost of $61.30 per share, with a total value of $504,499.00. Following the acquisition, the chief executive officer owned 181,522 shares of the company’s stock, valued at $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Mcpherson purchased 1,390 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $71.92 per share, with a total value of $99,968.80. Following the purchase, the director owned 21,927 shares of the company’s stock, valued at approximately $1,576,989.84. This trade represents a 6.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday, June 5th. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Citigroup decreased their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. BMO Capital Markets boosted their price target on Commercial Metals from $77.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.18.

Commercial Metals Stock Up 0.5%

NYSE CMC opened at $68.78 on Friday. The business has a fifty day moving average price of $68.12 and a two-hundred day moving average price of $69.41. The stock has a market capitalization of $7.61 billion, a PE ratio of 12.95, a PEG ratio of 0.39 and a beta of 1.52. Commercial Metals Company has a fifty-two week low of $53.08 and a fifty-two week high of $84.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54.

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

Commercial Metals declared that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Commercial Metals’s payout ratio is currently 15.07%.

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.