O Shaughnessy Asset Management LLC Grows Stock Position in Commercial Metals (NYSE:CMC)

O Shaughnessy Asset Management LLC boosted its stake in shares of Commercial Metals (NYSE:CMC – Free Report) by 13.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,905 shares of the basic materials company’s stock after purchasing an additional 1,545 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Commercial Metals were worth $758,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in Commercial Metals in the first quarter worth approximately $28,000. Daiwa Securities Group Inc. purchased a new position in shares of Commercial Metals in the 4th quarter valued at about $30,000. SYSTM Wealth Solutions LLC acquired a new stake in shares of Commercial Metals during the 1st quarter worth about $44,000. GAMMA Investing LLC purchased a new stake in Commercial Metals during the fourth quarter worth approximately $74,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Commercial Metals in the fourth quarter valued at approximately $107,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $60.35 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $60.85. The firm has a 50-day simple moving average of $54.51 and a 200-day simple moving average of $54.50. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 12.57 and a beta of 1.17.

Commercial Metals (NYSE:CMC – Get Free Report) last announced its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business posted $2.02 EPS. The company’s revenue was down 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Commercial Metals will post 4.71 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were given a dividend of $0.18 per share. The ex-dividend date was Monday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.19%. Commercial Metals’s payout ratio is currently 15.00%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Bank of America reduced their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of “Hold” and an average target price of $60.50.

View Our Latest Stock Analysis on CMC

About Commercial Metals

(Free Report)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.