Tectonic Advisors LLC Boosts Holdings in Commercial Metals (NYSE:CMC)

Tectonic Advisors LLC raised its holdings in shares of Commercial Metals (NYSE:CMC) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,637 shares of the basic materials company’s stock after buying an additional 863 shares during the period. Tectonic Advisors LLC’s holdings in Commercial Metals were worth $924,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals in the 4th quarter worth $34,000. nVerses Capital LLC purchased a new stake in Commercial Metals in the third quarter worth about $66,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after buying an additional 944 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Commercial Metals during the 4th quarter valued at about $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 254 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Up 1.5 %

Shares of CMC stock opened at $48.67 on Thursday. 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 stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 43.84, a price-to-earnings-growth ratio of 2.49 and a beta of 1.18. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The stock’s 50-day moving average price is $52.66 and its 200-day moving average price is $54.21.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $1.49 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. Commercial Metals’s payout ratio is currently 64.86%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $54.00 in a report on Friday, January 10th. BMO Capital Markets lowered their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and a consensus target price of $62.33.

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.