Teamwork Financial Advisors LLC’s recent increase in holdings of Commercial Metals (NYSE:CMC) is a noteworthy event that has caught the attention of investors and market analysts alike. According to the company’s 13F filing with the SEC, Teamwork Financial Advisors LLC boosted its holdings in CMC by 62.2% in Q1 of 2023, resulting in ownership of 7,028 shares worth $344,000. This development is significant for several reasons, including CMC’s recent quarterly earnings report and its contributions to various global markets.
In regard to CMC’s most recent quarterly earnings results released on March 23rd, the basic materials company reported $1.44 earnings per share for Q4 of the prior year. Although this figure missed consensus estimates by ($0.09), it revealed that CMC had managed to increase its revenue despite ongoing challenges facing global markets. The company’s revenue for Q4 was $2.02 billion compared to consensus estimates of $1.94 billion – a .5% increase from the same quarter last year.
As a manufacturer, recycler, and fabricator of steel and metal products, as well as related materials and services both domestically and internationally, CMC plays an important role in various sectors across the globe. Among those who benefit from their goods are aluminum sheet manufacturers, copper refineries and mills, specialty steel mills, high-temperature alloy manufacturers, among others.
The uptick in ownership displayed by Teamwork Financial Advisors LLC reveals not only a recognition but also confidence in Commercial Metals Company’s potential going forward despite challenges facing global markets today; this is no small feat given current circumstances affecting many markets worldwide.
Overall sentiment appears positive within the industry as research analysts predict that Commercial Metals will post earnings per share of 7.78 for this calendar year alone – demonstrating an upward trend from last year’s earnings per share figure at this time,
With Teamwork Financial Advisors LLC’s recent move and a renewed sense of optimism surrounding the industry, it will be interesting to see what the future holds Commercial Metals Company in this current climate. Investors and analysts alike will surely have their eyes closely on them in the coming months and years as they navigate the ever-changing interconnected global marketplace.
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Hedge Funds Show Confidence in Commercial Metals Company’s Growth Potential
Commercial Metals Company Continues to Attract Hedge Fund Investments
June 19, 2023 – Despite fluctuations in the stock market, Commercial Metals Company continues to attract hedge fund investments. CI Investments Inc., Accurate Wealth Management LLC, Lindbrook Capital LLC, Armstrong Advisory Group Inc., and Geneos Wealth Management Inc. are among the hedge funds that have bought and sold shares of CMC in recent months.
During the fourth quarter of 2022, CI Investments purchased a new stake in shares of Commercial Metals valued at $32,000, while Accurate Wealth Management LLC and Lindbrook Capital LLC both made similar moves by purchasing stakes valued at $33,000 and $33,000 respectively. In fact, Lindbrook Capital increased its position in shares of Commercial Metals by an impressive 41.2% during Q4 2022 alone.
Armstrong Advisory Group Inc. also invested in a new stake in CMC during Q4 2022 for an amount worth about $35,000. Meanwhile, during the first quarter of this year, Geneos Wealth Management Inc. increased its position in shares of Commercial Metals by a staggering 920%, now owning 1,020 shares worth $42,000.
Institutional investors such as these own a substantial portion of the company’s stock at around 84.30%. This could be due to Commercial Metals’ impressive performance as a business in recent years.
The firm offers manufacturing services all over the world for steel and metal products. These include processing and selling ferrous and nonferrous scrap metals to various manufacturers across different industries such as high temperature alloy manufacturers.
Recently declared quarterly dividends were paid on April 12th to shareholders who were recorded on April 3rd for an annualized dividend yield of approximately 1.34%.
Research firms such as StockNews.com have rated Commercial Metal’s present rating average “Hold” with an average price target estimated at $56.40.
Despite the fluctuations of the stock market, it’s clear that Commercial Metals continues to attract hedge fund investors who see the company’s potential for future growth and success.