Strategic Financial Concepts LLC Invests $984,000 in Commercial Metals (NYSE:CMC)

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

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the 4th quarter valued at $34,000. V Square Quantitative Management LLC raised 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 during the last quarter. nVerses Capital LLC acquired a new position in Commercial Metals during the third quarter worth $66,000. GAMMA Investing LLC raised its holdings in Commercial Metals by 56.6% during 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 last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Commercial Metals during the fourth quarter worth $134,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Performance

CMC traded down $1.06 during trading on Friday, hitting $49.78. 928,696 shares of the company traded hands, compared to its average volume of 955,101. The firm has a market cap of $5.66 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The stock's fifty day moving average is $50.18 and its 200 day moving average is $53.66. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a one year low of $45.50 and a one year high of $64.53.

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

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. Commercial Metals's dividend payout ratio is presently 64.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CMC shares. BMO Capital Markets lowered their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Friday, January 3rd. UBS Group upgraded shares of Commercial Metals from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Jefferies Financial Group reduced 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. Morgan Stanley reduced their target price on shares of Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group assumed 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $62.33.

Commercial Metals 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.