Tidal Investments LLC Boosts Holdings in Commercial Metals (NYSE:CMC)

Tidal Investments LLC increased its position in Commercial Metals (NYSE:CMC - Free Report) by 73.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,270 shares of the basic materials company's stock after purchasing an additional 21,365 shares during the period. Tidal Investments LLC's holdings in Commercial Metals were worth $2,493,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares during the last quarter. South Plains Financial Inc. purchased a new position in Commercial Metals in the 4th quarter worth approximately $73,000. Jones Financial Companies Lllp lifted its position in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Commercial Metals during the 4th quarter valued at $105,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMC. Morgan Stanley decreased their price target on 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. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, BMO Capital Markets lowered their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.33.

Commercial Metals Stock Down 0.0%

Commercial Metals stock opened at $46.67 on Friday. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The stock has a fifty day moving average of $45.00 and a 200 day moving average of $50.17. 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 stock has a market cap of $5.27 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors 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 annualized dividend and a yield of 1.54%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

About Commercial Metals

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.

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