23,218 Shares in Commercial Metals (NYSE:CMC) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,218 shares of the basic materials company’s stock, valued at approximately $1,152,000.

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC increased its position in shares of 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 valued at $35,000 after acquiring an additional 267 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 944 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Commercial Metals by 10.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 254 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $49.88 on Thursday. 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 50-day simple moving average of $49.94 and a 200-day simple moving average of $53.60. Commercial Metals has a one year low of $45.50 and a one year high of $64.53. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 2.62 and a beta of 1.18.

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

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMC. BMO Capital Markets cut their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley dropped their price objective on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.33.

About Commercial Metals

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.