Polymer Capital Management US LLC Purchases Shares of 26,200 Commercial Metals (NYSE:CMC)

Polymer Capital Management US LLC acquired a new position in shares of Commercial Metals (NYSE:CMC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 26,200 shares of the basic materials company’s stock, valued at approximately $1,300,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC bought a new position in Commercial Metals in the fourth quarter worth $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 267 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Commercial Metals in the fourth quarter valued at about $105,000. Finally, Amundi raised its position in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 504 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMC. Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group lowered their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group dropped their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, BMO Capital Markets lowered their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Price Performance

Commercial Metals stock opened at $40.95 on Monday. The business’s fifty day moving average is $48.07 and its two-hundred day moving average is $52.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market cap of $4.63 billion, a P/E ratio of 36.89, a P/E/G ratio of 2.62 and a beta of 1.16. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.88 earnings per share. Commercial Metals’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. Commercial Metals’s payout ratio is currently 120.00%.

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.