Neo Ivy Capital Management Invests $2.10 Million in Commercial Metals (NYSE:CMC)

Neo Ivy Capital Management acquired a new position in Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,381 shares of the basic materials company's stock, valued at approximately $2,102,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CMC. First Dallas Securities Inc. boosted its stake in shares of Commercial Metals by 41.5% during the fourth quarter. First Dallas Securities Inc. now owns 30,079 shares of the basic materials company's stock valued at $1,492,000 after purchasing an additional 8,828 shares during the period. Hodges Capital Management Inc. increased its holdings in shares of Commercial Metals by 24.2% during the fourth quarter. Hodges Capital Management Inc. now owns 290,942 shares of the basic materials company's stock valued at $14,431,000 after acquiring an additional 56,666 shares in the last quarter. KBC Group NV increased its holdings in shares of Commercial Metals by 57.6% during the fourth quarter. KBC Group NV now owns 4,884 shares of the basic materials company's stock valued at $242,000 after acquiring an additional 1,785 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Commercial Metals by 9.5% during the fourth quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock valued at $784,000 after acquiring an additional 1,369 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at $984,000. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost 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. The trade was a 19.54% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Commercial Metals Price Performance

Shares of NYSE:CMC traded up $2.80 during trading on Tuesday, reaching $48.93. The stock had a trading volume of 1,076,576 shares, compared to its average volume of 1,148,950. 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 business has a fifty day moving average price of $44.99 and a 200-day moving average price of $49.83. The stock has a market cap of $5.53 billion, a PE ratio of 44.08, a PEG ratio of 2.62 and a beta of 1.29. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly 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 net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.88 EPS. The business's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.47%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Analyst Ratings Changes

CMC has been the topic of several recent research reports. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Tuesday. UBS Group dropped their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. BMO Capital Markets decreased their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $58.86.

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.