Teza Capital Management LLC Grows Holdings in Commercial Metals (NYSE:CMC)

Teza Capital Management LLC boosted its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 135.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,946 shares of the basic materials company's stock after purchasing an additional 14,907 shares during the period. Teza Capital Management LLC's holdings in Commercial Metals were worth $1,287,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in shares of Commercial Metals by 5.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock valued at $225,000 after buying an additional 229 shares during the last quarter. Mariner LLC lifted its stake in shares of Commercial Metals by 0.9% in the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after buying an additional 232 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Commercial Metals by 3.5% in the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock worth $355,000 after buying an additional 242 shares in the last quarter. Arizona State Retirement System increased its position in 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 worth $1,655,000 after purchasing an additional 262 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position 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 acquiring an additional 267 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Down 1.1%

Shares of NYSE:CMC traded down $0.52 during trading on Friday, hitting $46.19. 880,918 shares of the company were exchanged, compared to its average volume of 961,275. The stock has a market capitalization of $5.22 billion, a P/E ratio of 41.61, a PEG ratio of 2.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The firm's 50 day moving average price is $45.00 and its 200-day moving average price is $50.02.

Commercial Metals (NYSE:CMC - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, research analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal 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 was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. Commercial Metals's dividend payout ratio is presently 120.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective 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. UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Commercial Metals presently has an average rating of "Hold" and a consensus price target of $60.33.

Insider Transactions at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the acquisition, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. The trade was a 19.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

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.