Isthmus Partners LLC Raises Holdings in Commercial Metals (NYSE:CMC)

Isthmus Partners LLC grew its position in Commercial Metals (NYSE:CMC) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,822 shares of the basic materials company’s stock after purchasing an additional 986 shares during the period. Isthmus Partners LLC’s holdings in Commercial Metals were worth $375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CMC. Public Employees Retirement System of Ohio purchased a new position in Commercial Metals in the first quarter worth $558,000. Comerica Bank grew its holdings in Commercial Metals by 10.5% in the first quarter. Comerica Bank now owns 64,920 shares of the basic materials company’s stock worth $3,815,000 after purchasing an additional 6,174 shares during the last quarter. Burney Co. purchased a new position in Commercial Metals in the first quarter worth $331,000. GAMMA Investing LLC grew its holdings in Commercial Metals by 21.9% in the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 282 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals in the second quarter worth $129,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Commercial Metals Trading Up 0.7 %

NYSE CMC opened at $61.78 on Friday. The company has a market capitalization of $7.04 billion, a PE ratio of 14.92, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a fifty day moving average of $56.28 and a 200 day moving average of $54.87. Commercial Metals has a 1 year low of $44.78 and a 1 year high of $63.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Research analysts forecast that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.18 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. Commercial Metals’s dividend payout ratio is presently 17.39%.

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.