Twinbeech Capital LP Acquires Shares of 8,854 Commercial Metals (NYSE:CMC)

Twinbeech Capital LP acquired a new stake in shares of Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,854 shares of the basic materials company's stock, valued at approximately $439,000.

Several other institutional investors have also recently modified their holdings of CMC. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC increased its position in shares of Commercial Metals by 60.7% during the 4th 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 last quarter. South Plains Financial Inc. bought a new position in shares of Commercial Metals during the 4th quarter valued at about $73,000. Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 297 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Commercial Metals during the 4th quarter worth approximately $105,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was bought 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 in the company, valued at $611,999.22. This trade represents a 19.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Commercial Metals Trading Down 2.0%

NYSE CMC traded down $1.00 on Wednesday, hitting $47.88. The company's stock had a trading volume of 128,003 shares, compared to its average volume of 958,520. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company's 50-day simple moving average is $45.02 and its 200 day simple moving average is $49.83. The firm has a market cap of $5.41 billion, a P/E ratio of 43.11, a PEG ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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 business had revenue of $1.75 billion during 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 company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. Research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is presently 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.