Atria Investments Inc Makes New Investment in Commercial Metals (NYSE:CMC)

Atria Investments Inc bought a new stake in shares of Commercial Metals (NYSE:CMC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,278 shares of the basic materials company’s stock, valued at approximately $290,000.

A number of other hedge funds have also made changes to their positions in CMC. nVerses Capital LLC acquired a new stake in Commercial Metals in the third quarter valued at $66,000. Archer Investment Corp acquired a new position in Commercial Metals during the 2nd quarter worth $77,000. GAMMA Investing LLC grew its holdings in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Commercial Metals in the 2nd quarter worth about $129,000. Finally, BOKF NA raised its stake in shares of Commercial Metals by 45.7% in the 1st quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 1,051 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Trading Up 1.3 %

NYSE:CMC opened at $61.22 on Friday. Commercial Metals has a 12-month low of $43.52 and a 12-month 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. The business has a 50 day simple moving average of $55.52 and a 200 day simple moving average of $54.74. The firm has a market capitalization of $6.97 billion, a P/E ratio of 14.79, a P/E/G ratio of 2.56 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. Equities research analysts predict that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Announces Dividend

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 $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analyst Ratings Changes

A number of equities analysts recently commented on CMC shares. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

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.