Inspire Investing LLC Makes New $235,000 Investment in Commercial Metals (NYSE:CMC)


Inspire Investing LLC bought a new position in shares of Commercial Metals (NYSE:CMC – Get Rating ) during the first quarter, HoldingsChannel reports. The institutional investor bought 5,652 shares of the basic materials company’s stock, valued at approximately $235,000.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Commercial Metals during the fourth quarter worth about $459,000. Retirement Systems of Alabama raised its stake in shares of Commercial Metals by 0.9% in the first quarter. Retirement Systems of Alabama now owns 159,396 shares of the basic materials company’s stock valued at $6,634,000 after buying an additional 1,485 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Commercial Metals by 28.3% during the third quarter. UBS Asset Management Americas Inc. now owns 173,206 shares of the basic materials company’s stock valued at $5,276,000 after purchasing an additional 38,168 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Commercial Metals by 50.6% in the 4th quarter. First Eagle Investment Management LLC now owns 24,691 shares of the basic materials company’s stock valued at $896,000 after purchasing an additional 8,300 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $154,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.

Shares of NYSE CMC opened at $33.99 on Friday. The business’s 50-day moving average is $37.50, and its 200-day moving average is $38.16. The company has a market cap of $4.10 billion, a PE ratio of 3.86 and a beta of 1.19. The company has a quick ratio of 1.51, a current ratio of 2.48 and a debt-to-equity ratio of 0.36. Commercial Metals has a twelve month low of $28.76 and a twelve month high of $46.68.

Commercial Metals (NYSE:CMC – Get Rating ) last announced its quarterly earnings results on Thursday, June 16th. The basic materials company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $1.14. Commercial Metals had a return on equity of 31.92% and a net margin of 12.66%. In the same quarter last year, the firm earned $1.04 EPS. As a group, research analysts expect that Commercial Metals will post 7.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 29th will be paid a dividend of $0.14 per share. This represents an annualized dividend of $0.56 and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, June 28th. Commercial Metals’ dividend payout ratio (DPR) is currently 6.36%.

Several analysts have issued reports on the company. Credit Suisse Group raised their target price on Commercial Metals from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, June 17th. KeyCorp raised their target price on Commercial Metals from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, June 7th. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. BMO Capital Markets upped their target price on Commercial Metals from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, March 18th. Finally, The Goldman Sachs Group reduced their target price on Commercial Metals from $42.00 to $38.00 in a research report on Tuesday, May 31st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Commercial Metals currently has an average rating of “Hold” and a consensus target price of $42.80, based on data from MarketBeat.com.

In other news, CEO Barbara Smith sold 4,101 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $43.45, for a total transaction of $178,188.45. Following the completion of the sale, the chief executive officer now owns 533,785 shares in the company, valued at $23,192,958.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. McPherson acquired 5,000 shares of Commercial Metals stock in a transaction dated Tuesday, April 26th. The shares were purchased at an average price of $40.55 per share, for a total value of $202,750.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $202,750. Disclosure of that purchase can be found here. 1.20% of shares are owned by insiders.

Commercial metal profile (Get Rating)

Commercial Metals Company manufactures, recycles and fabricates steel and metal products and related materials and services in the United States, Poland, China and internationally. The company processes and sells ferrous and non-ferrous metal scrap to steel mills and foundries, aluminum sheet and ingot producers, brass and bronze ingot producers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy producers and other users.

See also

Want to see what other hedge funds hold CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE: CMC – Get Rating) .

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)



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