Polymer Capital Management US LLC Makes New Investment in Commercial Metals (NYSE:CMC)

Polymer Capital Management US LLC purchased a new position in shares of Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,200 shares of the basic materials company's stock, valued at approximately $1,300,000.

A number of other large investors have also modified their holdings of the business. Ashton Thomas Private Wealth LLC grew its holdings in Commercial Metals by 5.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock worth $225,000 after acquiring an additional 229 shares during the period. Truist Financial Corp grew its stake in shares of Commercial Metals by 3.5% during the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock worth $355,000 after purchasing an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Commercial Metals by 10.0% in 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 purchasing an additional 254 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Commercial Metals by 0.8% in the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company's stock valued at $1,655,000 after purchasing an additional 262 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in 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 worth $35,000 after buying an additional 267 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMC has been the subject of a number of research reports. UBS Group reduced 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 report on Monday, March 24th. Jefferies Financial Group decreased their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Morgan Stanley cut 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. Finally, BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.33.

Commercial Metals Price Performance

CMC stock traded up $0.08 during trading on Friday, hitting $41.93. The stock had a trading volume of 1,677,515 shares, compared to its average volume of 949,073. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. 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 company's 50 day moving average price is $47.01 and its two-hundred day moving average price is $51.89. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its 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 return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $0.88 EPS. The firm's revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio is currently 120.00%.

Insider Transactions at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the business's stock in a transaction that occurred on 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 transaction, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This represents a 19.54 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company's stock.

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.