Strategic Financial Concepts LLC Takes $984,000 Position in Commercial Metals (NYSE:CMC)

Strategic Financial Concepts LLC acquired a new position in Commercial Metals (NYSE:CMC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,840 shares of the basic materials company’s stock, valued at approximately $984,000.

Other hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC boosted its position in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares during the period. nVerses Capital LLC purchased a new position in Commercial Metals during the third quarter valued at approximately $66,000. GAMMA Investing LLC increased its holdings in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Commercial Metals in the 4th quarter worth approximately $134,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

NYSE:CMC opened at $53.03 on Wednesday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.18. The business has a 50 day moving average of $50.68 and a 200 day moving average of $53.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 1-year low of $45.50 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. On average, sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price target for the company from $56.00 to $54.00 in a research report on Friday, January 10th. BMO Capital Markets decreased their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley lowered their price target on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.33.

Commercial Metals Profile

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.