Commercial Metals (NYSE:CMC) Shares Bought by Isthmus Partners LLC

Isthmus Partners LLC grew its position in shares of Commercial Metals (NYSE:CMC) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 7,155 shares of the basic materials company’s stock after acquiring an additional 333 shares during the quarter. Isthmus Partners LLC’s holdings in Commercial Metals were worth $355,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in Commercial Metals during the fourth quarter worth $34,000. V Square Quantitative Management LLC lifted its stake in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares in the last quarter. Amundi lifted its stake in Commercial Metals by 29.9% during 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. Finally, GAMMA Investing LLC lifted its stake in Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of CMC stock opened at $43.24 on Tuesday. The stock’s 50-day moving average is $49.37 and its two-hundred day moving average is $53.20. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 2.62 and a beta of 1.17. Commercial Metals has a 1 year low of $41.84 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company posted $1.49 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. Analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 64.86%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and dropped their target price for the company from $56.00 to $54.00 in a report on Friday, January 10th. Morgan Stanley dropped their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday. Jefferies Financial Group dropped their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.83.

Commercial Metals Company 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.