Commercial Metals Company (NYSE:CMC) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC raised its stake in Commercial Metals Company (NYSE:CMC - Free Report) by 53.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,655 shares of the basic materials company's stock after buying an additional 10,018 shares during the period. Tectonic Advisors LLC's holdings in Commercial Metals were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the fourth quarter worth $34,000. UMB Bank n.a. lifted its position in shares of Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Commercial Metals during the first quarter valued at $47,000. Finally, South Plains Financial Inc. acquired a new position in Commercial Metals in the 4th quarter valued at about $73,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a report on Friday, June 20th. JPMorgan Chase & Co. increased their price target on Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $57.50.

Commercial Metals Trading Up 2.8%

CMC traded up $1.43 on Thursday, reaching $52.67. 451,031 shares of the company's stock were exchanged, compared to its average volume of 994,021. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 169.68, a PEG ratio of 2.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53. The company's 50 day moving average is $49.20 and its 200-day moving average is $47.81.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the business posted $1.02 EPS. The business's revenue was down 2.8% on a year-over-year basis. Equities analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. Commercial Metals's payout ratio is currently 232.26%.

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.