Planned Solutions Inc. Acquires New Stake in Commercial Metals (NYSE:CMC)

Planned Solutions Inc. bought a new position in Commercial Metals (NYSE:CMC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,450 shares of the basic materials company’s stock, valued at approximately $73,000.

A number of other institutional investors have also recently modified their holdings of the stock. Tectonic Advisors LLC grew its position in Commercial Metals by 139.4% during the 4th quarter. Tectonic Advisors LLC now owns 18,847 shares of the basic materials company’s stock valued at $943,000 after purchasing an additional 10,973 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Commercial Metals by 63.8% during the fourth quarter. Pacer Advisors Inc. now owns 21,424 shares of the basic materials company’s stock valued at $1,072,000 after buying an additional 8,342 shares during the last quarter. Raymond James & Associates increased its position in shares of Commercial Metals by 23.5% during the fourth quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company’s stock valued at $5,950,000 after acquiring an additional 22,619 shares in the last quarter. SG Americas Securities LLC raised its holdings in Commercial Metals by 31.0% in the 4th quarter. SG Americas Securities LLC now owns 35,412 shares of the basic materials company’s stock worth $1,772,000 after acquiring an additional 8,388 shares during the last quarter. Finally, Vest Financial LLC bought a new position in Commercial Metals in the 4th quarter valued at approximately $251,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. BMO Capital Markets lifted their target price on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. UBS Group assumed coverage on Commercial Metals in a report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $58.25.

Commercial Metals Trading Up 1.7 %

NYSE:CMC opened at $58.27 on Thursday. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81. The company has a market cap of $6.78 billion, a PE ratio of 10.12 and a beta of 1.32. The company has a 50 day simple moving average of $53.60 and a two-hundred day simple moving average of $49.34.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts forecast that Commercial Metals will post 5.22 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.18 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 28th. Commercial Metals’s dividend payout ratio is currently 11.11%.

Insiders Place Their Bets

In other news, Chairman Barbara Smith sold 23,619 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $51.65, for a total transaction of $1,219,921.35. Following the completion of the sale, the chairman now owns 72,400 shares of the company’s stock, valued at approximately $3,739,460. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Barbara Smith sold 23,619 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $51.65, for a total value of $1,219,921.35. Following the transaction, the chairman now owns 72,400 shares of the company’s stock, valued at $3,739,460. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lindsay L. Sloan sold 600 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the transaction, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at $635,653.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 284,385 shares of company stock worth $14,317,006. Company insiders own 1.00% of the company’s stock.

Commercial Metals Company 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.