Townsquare Capital LLC Makes New Investment in Commercial Metals (NYSE:CMC)

Townsquare Capital LLC acquired a new position in shares of Commercial Metals (NYSE:CMC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,704 shares of the basic materials company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also modified their holdings of CMC. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC grew its position 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 valued at $35,000 after acquiring an additional 267 shares during the period. Jones Financial Companies Lllp raised its stake in 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 acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at $105,000. Finally, Covestor Ltd boosted its stake in shares of Commercial Metals by 19.0% in the 4th quarter. Covestor Ltd now owns 2,148 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 343 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John R. Mcpherson bought 2,475 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the transaction, the director now owns 15,141 shares of the company’s stock, valued at $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

CMC has been the subject of several analyst reports. BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Jefferies Financial Group cut their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley decreased their price target 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. UBS Group cut their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.33.

Commercial Metals Price Performance

Shares of CMC stock opened at $42.84 on Wednesday. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.62 and a beta of 1.16. Commercial Metals has a 12 month low of $37.92 and a 12 month 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 stock has a 50-day moving average price of $45.89 and a 200 day moving average price of $51.31.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.68%. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.