D. E. Shaw & Co. Inc. Acquires Shares of 16,849 Commercial Metals (CMC)

D. E. Shaw & Co. Inc. acquired a new stake in Commercial Metals (NYSE:CMC) in the 4th quarter, Holdings Channel reports. The firm acquired 16,849 shares of the basic materials company’s stock, valued at approximately $270,000.

Several other hedge funds have also added to or reduced their stakes in CMC. Quantamental Technologies LLC acquired a new position in Commercial Metals during the 4th quarter worth $47,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Commercial Metals during the 4th quarter worth $48,000. Oppenheimer Asset Management Inc. acquired a new position in Commercial Metals during the 4th quarter worth $107,000. NumerixS Investment Technologies Inc lifted its position in Commercial Metals by 260.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 10,100 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 7,300 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Commercial Metals during the 3rd quarter worth $207,000. 88.80% of the stock is owned by institutional investors and hedge funds.

NYSE:CMC opened at $17.71 on Tuesday. Commercial Metals has a 52-week low of $15.23 and a 52-week high of $24.95. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.05 billion, a PE ratio of 11.89, a P/E/G ratio of 0.75 and a beta of 1.31.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Commercial Metals had a net margin of 2.41% and a return on equity of 12.49%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue was up 33.1% compared to the same quarter last year. On average, research analysts expect that Commercial Metals will post 1.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. Commercial Metals’s payout ratio is 32.21%.

A number of research firms have weighed in on CMC. Cowen reissued a “market perform” rating and set a $18.50 target price (up previously from $17.00) on shares of Commercial Metals in a research report on Tuesday, April 9th. ValuEngine raised shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Macquarie raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $15.23 to $17.37 in a research report on Friday, March 22nd. Citigroup set a $18.00 target price on shares of Commercial Metals and gave the stock a “hold” rating in a research report on Tuesday, January 8th. Finally, Seaport Global Securities reissued a “hold” rating on shares of Commercial Metals in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.23.

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About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

Further Reading: Yield Curve

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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