TFO Wealth Partners LLC Acquires 4,708 Shares of Commercial Metals (NYSE:CMC)

TFO Wealth Partners LLC increased its holdings in shares of Commercial Metals (NYSE:CMCFree Report) by 33,628.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,722 shares of the basic materials company’s stock after purchasing an additional 4,708 shares during the quarter. TFO Wealth Partners LLC’s holdings in Commercial Metals were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allianz Asset Management GmbH lifted its holdings in shares of Commercial Metals by 54.1% during the fourth quarter. Allianz Asset Management GmbH now owns 529,427 shares of the basic materials company’s stock valued at $26,493,000 after purchasing an additional 185,796 shares in the last quarter. InterOcean Capital Group LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at $352,000. Franklin Resources Inc. lifted its holdings in shares of Commercial Metals by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 555,038 shares of the basic materials company’s stock valued at $27,774,000 after purchasing an additional 4,994 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Commercial Metals by 23.4% during the fourth quarter. Assetmark Inc. now owns 4,755 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 901 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at $123,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Up 1.8 %

Commercial Metals stock opened at $56.32 on Monday. The stock has a market cap of $6.52 billion, a PE ratio of 9.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. Commercial Metals has a one year low of $39.85 and a one year high of $59.81. The stock has a fifty day moving average of $56.40 and a 200 day moving average of $52.62.

Commercial Metals (NYSE:CMCGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, sell-side analysts predict that Commercial Metals will post 5.34 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a $0.18 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. Commercial Metals’s dividend payout ratio is presently 12.50%.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the sale, the chairman now owns 36,196 shares in the company, valued at $2,095,024.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

CMC has been the subject of a number of research reports. StockNews.com upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. BMO Capital Markets upped their price objective on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

Read Our Latest Stock Analysis on Commercial Metals

About Commercial Metals

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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