Xponance Inc. Acquires 520 Shares of Commercial Metals (NYSE:CMC)

Xponance Inc. grew its holdings in Commercial Metals (NYSE:CMC) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,794 shares of the basic materials company’s stock after purchasing an additional 520 shares during the period. Xponance Inc.’s holdings in Commercial Metals were worth $833,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in Commercial Metals in the 4th quarter worth about $34,000. 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 valued at $35,000 after acquiring an additional 267 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 297 shares during the last quarter. Amundi grew its stake in shares of Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 504 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 4.9 %

NYSE CMC opened at $48.89 on Tuesday. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $5.56 billion, a P/E ratio of 44.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The stock’s 50-day moving average price is $48.87 and its 200-day moving average price is $52.74.

Commercial Metals (NYSE:CMC) last released its 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). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.88 EPS. Commercial Metals’s revenue was down 5.1% on a year-over-year basis. On average, equities research 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 Wednesday, April 9th. Investors of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

Analyst Upgrades and Downgrades

CMC has been the topic of several research reports. UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley cut their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.33.

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.