Putney Financial Group LLC Acquires New Position in Commercial Metals (NYSE:CMC)

Putney Financial Group LLC bought a new position in shares of Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,237 shares of the basic materials company's stock, valued at approximately $607,000. Commercial Metals comprises about 0.4% of Putney Financial Group LLC's investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in CMC. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC raised its position in Commercial Metals by 60.7% in 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 during the period. South Plains Financial Inc. purchased a new stake in Commercial Metals in the fourth quarter valued at approximately $73,000. Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after acquiring an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth $105,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMC. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Tuesday. UBS Group reduced their price objective 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, March 24th. Morgan Stanley reduced their price objective 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. BMO Capital Markets dropped their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Commercial Metals in a research report on Friday. They set a "neutral" rating and a $52.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of "Hold" and a consensus price target of $58.00.

Insider Buying and Selling

In related news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought 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 of the company's stock, valued at approximately $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Commercial Metals Stock Down 1.5%

Shares of NYSE:CMC traded down $0.70 during midday trading on Friday, hitting $46.43. 433,276 shares of the company's stock traded hands, compared to its average volume of 961,885. 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 company has a market cap of $5.25 billion, a PE ratio of 41.83, a P/E/G ratio of 2.62 and a beta of 1.29. The firm's fifty day moving average price is $44.99 and its two-hundred day moving average price is $49.70. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.55%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Commercial Metals Company 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.