GAMMA Investing LLC Has $130,000 Stock Holdings in Commercial Metals (NYSE:CMC)

GAMMA Investing LLC increased its position in Commercial Metals (NYSE:CMC) by 56.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,611 shares of the basic materials company’s stock after purchasing an additional 944 shares during the quarter. GAMMA Investing LLC’s holdings in Commercial Metals were worth $130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Tectonic Advisors LLC boosted its stake in shares of Commercial Metals by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock valued at $977,000 after purchasing an additional 272 shares during the last quarter. Assetmark Inc. lifted its holdings in Commercial Metals by 6.4% in the third quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock valued at $253,000 after buying an additional 277 shares during the period. Inspire Investing LLC boosted its stake in Commercial Metals by 4.6% in the second quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 284 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Commercial Metals by 4.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 287 shares during the period. Finally, TD Private Client Wealth LLC raised its position in shares of Commercial Metals by 6.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company’s stock valued at $325,000 after acquiring an additional 332 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of CMC stock opened at $47.65 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. Commercial Metals has a 52 week low of $47.41 and a 52 week high of $64.53. The company’s 50 day moving average price is $56.61 and its two-hundred day moving average price is $54.87. The company has a market capitalization of $5.43 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 EPS. On average, analysts expect that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. Commercial Metals’s payout ratio is presently 17.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on CMC. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets decreased their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group began coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. UBS Group reissued a “sell” rating and set a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average price target of $64.17.

About Commercial Metals

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.