Strategic Financial Concepts LLC Buys New Position in Commercial Metals (NYSE:CMC)

Strategic Financial Concepts LLC acquired a new position in shares of Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,840 shares of the basic materials company's stock, valued at approximately $984,000.

Several other institutional investors also recently bought and sold shares of CMC. Sanctuary Advisors LLC purchased a new stake in Commercial Metals during the second quarter worth approximately $452,000. Inspire Investing LLC grew its stake in Commercial Metals by 17.3% during the third quarter. Inspire Investing LLC now owns 7,496 shares of the basic materials company's stock worth $412,000 after buying an additional 1,104 shares during the period. Creative Planning grew its stake in Commercial Metals by 17.9% during the third quarter. Creative Planning now owns 27,003 shares of the basic materials company's stock worth $1,484,000 after buying an additional 4,100 shares during the period. nVerses Capital LLC purchased a new stake in Commercial Metals during the third quarter worth approximately $66,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Commercial Metals during the third quarter worth approximately $461,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMC. BMO Capital Markets decreased their target price on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 target price for the company. UBS Group upgraded shares of Commercial Metals from a "sell" rating to a "neutral" rating and decreased their target price for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, BNP Paribas downgraded 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.33.

Commercial Metals Stock Up 1.8 %

CMC traded up $0.92 during trading on Friday, hitting $52.40. The company had a trading volume of 1,096,586 shares, compared to its average volume of 996,336. The company has a market cap of $5.95 billion, a PE ratio of 47.20, a P/E/G ratio of 2.58 and a beta of 1.18. The business has a 50-day moving average of $51.05 and a 200-day moving average of $53.81. 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 1-year low of $45.50 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm's quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. As a group, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. 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 1.37%. Commercial Metals's dividend payout ratio (DPR) is 64.86%.

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.