Focus Partners Wealth Raises Stock Position in Commercial Metals (NYSE:CMC)

Focus Partners Wealth grew its holdings in Commercial Metals (NYSE:CMC) by 124.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,742 shares of the basic materials company’s stock after buying an additional 9,838 shares during the period. Focus Partners Wealth’s holdings in Commercial Metals were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the 4th quarter worth about $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% in 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 last quarter. South Plains Financial Inc. bought a new stake in shares of Commercial Metals in the 4th quarter worth about $73,000. Jones Financial Companies Lllp lifted its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Commercial Metals in the 4th quarter worth about $105,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

NYSE:CMC opened at $48.04 on Monday. 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 company has a fifty day moving average of $44.86 and a two-hundred day moving average of $50.31. The stock has a market capitalization of $5.43 billion, a PE ratio of 43.28, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

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

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. Commercial Metals’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMC. BMO Capital Markets decreased their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. UBS Group decreased their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.33.

Insider Transactions at Commercial Metals

In other news, Director John R. Mcpherson acquired 2,475 shares of the company’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This trade represents a 19.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

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.