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

Isthmus Partners LLC increased its holdings in Commercial Metals (NYSE:CMC) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,155 shares of the basic materials company’s stock after purchasing 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 reporting period.

A number of other large investors also recently bought and sold shares of CMC. Heck Capital Advisors LLC purchased a new stake in Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC increased its stake in 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 buying an additional 267 shares in the last quarter. Jones Financial Companies Lllp increased its stake in 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 worth $82,000 after buying an additional 297 shares in the last quarter. Amundi increased its stake in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after buying an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 buying an additional 944 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CMC. 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 research note on Monday, January 6th. BMO Capital Markets cut their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.83.

Commercial Metals Price Performance

CMC stock opened at $43.24 on Tuesday. The firm has a market capitalization of $4.91 billion, a PE ratio of 38.95, a price-to-earnings-growth 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 current ratio of 2.76 and a quick ratio of 1.94. The business has a 50 day simple moving average of $49.37 and a 200-day simple moving average of $53.20.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 earnings per share. Equities research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.67%. Commercial Metals’s payout ratio is 64.86%.

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.