5,561 Shares in Commercial Metals (NYSE:CMC) Bought by Stevens Capital Management LP

Stevens Capital Management LP purchased a new stake in Commercial Metals (NYSE:CMC) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,561 shares of the basic materials company’s stock, valued at approximately $276,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC grew its holdings in shares of Commercial Metals by 5.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 229 shares during the last quarter. Truist Financial Corp raised its stake in Commercial Metals by 3.5% during the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 242 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 262 shares during the period. Finally, V Square Quantitative Management LLC raised its stake 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 purchasing an additional 267 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 4.9 %

CMC stock opened at $48.89 on Tuesday. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.56 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business’s 50-day simple moving average is $48.87 and its 200 day simple moving average is $52.74.

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

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday. BMO Capital Markets dropped their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday. Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.33.

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.