Flagship Harbor Advisors LLC Acquires 329 Shares of Commercial Metals (NYSE:CMC)

Flagship Harbor Advisors LLC lifted its stake in shares of Commercial Metals (NYSE:CMC) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,796 shares of the basic materials company’s stock after buying an additional 329 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Commercial Metals were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 purchasing an additional 254 shares during the period. Tectonic Advisors LLC boosted its holdings in 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 acquiring an additional 272 shares in the last quarter. Assetmark Inc. boosted 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 worth $253,000 after acquiring an additional 277 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of 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 acquiring an additional 287 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Commercial Metals by 6.0% during the third quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 332 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.9 %

Commercial Metals stock opened at $49.89 on Thursday. The firm has a 50 day simple moving average of $53.97 and a 200 day simple moving average of $54.54. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1-year low of $45.50 and a 1-year high of $64.53. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 44.95, a P/E/G ratio of 2.59 and a beta of 1.19.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. On average, analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be paid a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Commercial Metals’s dividend payout ratio is presently 64.86%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group dropped their price target 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. Finally, Morgan Stanley initiated coverage on Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and a consensus target price of $63.83.

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.