Tidal Investments LLC Raises Stock Position in Commercial Metals (NYSE:CMC)

Tidal Investments LLC raised its position in Commercial Metals (NYSE:CMC) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,862 shares of the basic materials company’s stock after buying an additional 8,714 shares during the quarter. Tidal Investments LLC’s holdings in Commercial Metals were worth $3,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in Commercial Metals in the 1st quarter valued at $28,000. Daiwa Securities Group Inc. purchased a new position in Commercial Metals during the fourth quarter worth about $30,000. SYSTM Wealth Solutions LLC purchased a new position in Commercial Metals during the first quarter worth about $44,000. GAMMA Investing LLC acquired a new stake in Commercial Metals in the fourth quarter valued at about $74,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $107,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMC has been the topic of a number of analyst reports. Bank of America decreased their price target on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.50.

Commercial Metals Price Performance

Shares of CMC traded down $3.26 on Thursday, reaching $56.84. The stock had a trading volume of 351,807 shares, compared to its average volume of 890,321. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26. The firm has a market capitalization of $6.54 billion, a PE ratio of 12.53 and a beta of 1.17. The firm has a 50-day moving average of $54.64 and a 200 day moving average of $54.67. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. Commercial Metals’s revenue was down 11.4% compared to the same quarter last year. Sell-side analysts expect that Commercial Metals will post 4.71 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.72 annualized dividend and a yield of 1.27%. Commercial Metals’s dividend payout ratio (DPR) is currently 15.00%.

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.