Planned Solutions Inc. Takes Position in Commercial Metals (NYSE:CMC)

Planned Solutions Inc. purchased a new stake in Commercial Metals (NYSE:CMC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,450 shares of the basic materials company’s stock, valued at approximately $73,000.

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

Insider Transactions at Commercial Metals

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

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent research reports. BMO Capital Markets increased their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. UBS Group started coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They set 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.25.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $58.27 on Thursday. The business’s fifty day simple moving average is $53.60 and its 200-day simple moving average is $49.34. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.78 billion, a PE ratio of 10.12 and a beta of 1.32. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share 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 company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. Commercial Metals’s revenue was down 8.4% on a year-over-year basis. Equities analysts forecast that Commercial Metals will post 5.22 earnings per share for the current year.

Commercial Metals Increases Dividend

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

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.