GAMMA Investing LLC Acquires 148,302 Shares of Commercial Metals (NYSE:CMC)

GAMMA Investing LLC grew its holdings in shares of Commercial Metals (NYSE:CMC) by 5,679.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,913 shares of the basic materials company’s stock after buying an additional 148,302 shares during the period. GAMMA Investing LLC owned approximately 0.13% of Commercial Metals worth $6,944,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Commercial Metals by 9.5% during the 4th quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company’s stock worth $784,000 after buying an additional 1,369 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Commercial Metals during the 4th quarter worth approximately $984,000. Vest Financial LLC boosted its holdings in shares of Commercial Metals by 72.6% during the 4th quarter. Vest Financial LLC now owns 48,531 shares of the basic materials company’s stock worth $2,407,000 after buying an additional 20,411 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after buying an additional 267 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Commercial Metals by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,163,920 shares of the basic materials company’s stock worth $57,730,000 after buying an additional 73,368 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Up 2.1%

NYSE CMC opened at $49.98 on Monday. The firm has a market capitalization of $5.65 billion, a P/E ratio of 45.03, a PEG ratio of 2.62 and a beta of 1.27. The business has a fifty day simple moving average of $45.14 and a 200 day simple moving average of $49.08. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. 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 (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. On average, analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

CMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Commercial Metals in a report on Friday, May 30th. They set a “neutral” rating and a $52.00 price target on the stock. Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, May 27th. BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Commercial Metals has an average rating of “Hold” and an average price target of $58.00.

Insider Activity

In other news, Director John R. Mcpherson purchased 2,475 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares of the company’s stock, valued at $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.