GAMMA Investing LLC Has $6.94 Million Stake in Commercial Metals (NYSE:CMC)

GAMMA Investing LLC boosted its stake in Commercial Metals (NYSE:CMC - Free Report) by 5,679.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,913 shares of the basic materials company's stock after purchasing an additional 148,302 shares during the quarter. GAMMA Investing LLC owned about 0.13% of Commercial Metals worth $6,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at approximately $984,000. Vest Financial LLC raised its position in Commercial Metals by 72.6% in the fourth quarter. Vest Financial LLC now owns 48,531 shares of the basic materials company's stock valued at $2,407,000 after purchasing an additional 20,411 shares during the last quarter. Empowered Funds LLC boosted its position in Commercial Metals by 2.6% during the 4th quarter. Empowered Funds LLC now owns 52,364 shares of the basic materials company's stock worth $2,597,000 after buying an additional 1,304 shares during the period. Avidian Wealth Enterprises LLC bought a new stake in Commercial Metals during the 4th quarter worth approximately $220,000. Finally, Van ECK Associates Corp grew its holdings in Commercial Metals by 15.3% during the 4th quarter. Van ECK Associates Corp now owns 485,146 shares of the basic materials company's stock worth $24,064,000 after acquiring an additional 64,338 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price 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 $611,999.22. This trade represents a 19.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CMC shares. UBS Group cut their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Tuesday, May 27th. JPMorgan Chase & Co. started coverage on Commercial Metals in a research note on Friday, May 30th. They issued a "neutral" rating and a $52.00 price target for the company. BMO Capital Markets cut their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research note on Friday, March 21st. Finally, Morgan Stanley decreased their target price on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Commercial Metals currently has a consensus rating of "Hold" and an average target price of $58.00.

Commercial Metals Trading Up 0.2%

CMC stock traded up $0.08 during mid-day trading on Thursday, reaching $48.65. The company's stock had a trading volume of 721,949 shares, compared to its average volume of 977,392. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The business's 50 day moving average price is $45.55 and its 200 day moving average price is $49.02. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.27.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, equities research 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 Wednesday, April 9th. Stockholders 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 1.48%. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

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.