Tectonic Advisors LLC Buys 863 Shares of Commercial Metals (NYSE:CMC)

Tectonic Advisors LLC increased its stake in Commercial Metals (NYSE:CMC) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,637 shares of the basic materials company’s stock after buying an additional 863 shares during the quarter. Tectonic Advisors LLC’s holdings in Commercial Metals were worth $924,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $34,000. nVerses Capital LLC bought a new position in Commercial Metals during the 3rd quarter valued at about $66,000. GAMMA Investing LLC raised its position in Commercial Metals by 56.6% in the 4th 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 during the period. Union Bancaire Privee UBP SA bought a new stake in Commercial Metals in the fourth quarter worth about $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after buying an additional 254 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMC has been the topic of several recent analyst reports. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group lowered their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley decreased 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average price target of $62.33.

Commercial Metals Stock Performance

CMC stock opened at $48.67 on Thursday. Commercial Metals has a 1-year low of $45.50 and a 1-year high of $64.53. The business has a 50-day moving average price of $52.66 and a 200 day moving average price of $54.21. The company has a market capitalization of $5.53 billion, a P/E ratio of 43.84, a PEG ratio of 2.49 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. Commercial Metals’s dividend payout ratio is currently 64.86%.

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.