Wealth Enhancement Advisory Services LLC Has $1.14 Million Holdings in Commercial Metals (NYSE:CMC)

Wealth Enhancement Advisory Services LLC lessened its stake in Commercial Metals (NYSE:CMC) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,007 shares of the basic materials company’s stock after selling 3,580 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Commercial Metals were worth $1,141,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CMC. Park Square Financial Group LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC bought a new stake in Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. acquired a new stake in Commercial Metals in the fourth quarter worth $73,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Trading Up 2.1%

NYSE:CMC opened at $49.98 on Monday. The company has a market cap of $5.65 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.27. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The business has a 50 day moving average price of $45.14 and a two-hundred day moving average price of $49.08. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

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

Insider Activity

In related news, Director John R. Mcpherson acquired 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, with a total value of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at $611,999.22. This represents a 19.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Commercial Metals in a research report on Friday, May 30th. They issued a “neutral” rating and a $52.00 price objective for the company. UBS Group dropped their price target 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. Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Tuesday, May 27th. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.00.

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.