Headlands Technologies LLC Purchases 4,105 Shares of Commercial Metals (NYSE:CMC)

Headlands Technologies LLC lifted its holdings in Commercial Metals (NYSE:CMC) by 1,118.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,472 shares of the basic materials company’s stock after buying an additional 4,105 shares during the period. Headlands Technologies LLC’s holdings in Commercial Metals were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the fourth quarter worth $34,000. V Square Quantitative Management LLC raised its stake 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 worth $35,000 after purchasing an additional 267 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after buying an additional 297 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Commercial Metals during the fourth quarter valued at about $105,000. Finally, Amundi increased its holdings in Commercial Metals by 29.9% during the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after buying an additional 504 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CMC shares. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group reduced their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. 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 research note on Friday, March 21st. Finally, 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Performance

NYSE:CMC opened at $40.95 on Friday. The business’s fifty day moving average is $48.07 and its 200 day moving average is $52.46. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 120.00%.

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.