Tectonic Advisors LLC Buys 272 Shares of Commercial Metals (NYSE:CMC)

Tectonic Advisors LLC boosted its holdings in Commercial Metals (NYSE:CMC) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,774 shares of the basic materials company’s stock after purchasing an additional 272 shares during the quarter. Tectonic Advisors LLC’s holdings in Commercial Metals were worth $977,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CMC. AlphaMark Advisors LLC grew its position in Commercial Metals by 19.6% in the 1st quarter. AlphaMark Advisors LLC now owns 6,084 shares of the basic materials company’s stock valued at $358,000 after purchasing an additional 997 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Commercial Metals by 1,701.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company’s stock worth $13,387,000 after buying an additional 215,131 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Commercial Metals by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 28,537 shares of the basic materials company’s stock worth $1,677,000 after buying an additional 500 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Commercial Metals in the 1st quarter worth about $575,000. Finally, BNP Paribas Financial Markets raised its stake in Commercial Metals by 61.9% in the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock valued at $3,941,000 after acquiring an additional 25,642 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Up 0.2 %

Shares of NYSE CMC opened at $51.97 on Friday. Commercial Metals has a 12 month low of $41.17 and a 12 month high of $61.26. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 10.83 and a beta of 1.14. The business has a 50-day moving average of $52.89 and a 200-day moving average of $54.28.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s payout ratio is 15.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.25.

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.