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

Strategic Financial Concepts LLC bought a new position in Commercial Metals (NYSE:CMC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,840 shares of the basic materials company’s stock, valued at approximately $984,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after buying an additional 254 shares in the last quarter. Tectonic Advisors LLC lifted its stake in shares of Commercial Metals by 1.6% in the third quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock worth $977,000 after buying an additional 272 shares in the last quarter. Assetmark Inc. lifted its position in Commercial Metals by 6.4% during the third quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 277 shares during the period. Verdence Capital Advisors LLC lifted its position in Commercial Metals by 4.2% during the third quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 287 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its position in Commercial Metals by 6.0% during the fourth quarter. Flagship Harbor Advisors LLC now owns 5,796 shares of the basic materials company’s stock valued at $288,000 after purchasing an additional 329 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.8 %

Shares of CMC stock opened at $49.88 on Wednesday. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The stock has a market cap of $5.67 billion, a P/E ratio of 44.94, a P/E/G ratio of 2.58 and a beta of 1.18. 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 company has a 50 day simple moving average of $51.68 and a two-hundred day simple moving average of $53.94.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $1.91 billion during 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 company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 earnings per share. On average, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. Commercial Metals’s dividend payout ratio (DPR) is presently 64.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. 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 research report on Friday, January 3rd. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average 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.