Commercial Metals (NYSE:CMC) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its position in Commercial Metals (NYSE:CMC) by 29.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,798 shares of the basic materials company’s stock after buying an additional 870 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Commercial Metals were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CMC. nVerses Capital LLC purchased a new stake in Commercial Metals during the third quarter worth about $66,000. Archer Investment Corp purchased a new stake in Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC increased its stake in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after buying an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Commercial Metals during the 2nd quarter worth approximately $129,000. Finally, Innealta Capital LLC purchased a new position in Commercial Metals in the 2nd quarter valued at approximately $195,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC opened at $61.08 on Friday. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52-week low of $43.52 and a 52-week high of $62.94. The stock has a 50 day moving average price of $53.33 and a 200 day moving average price of $54.29. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMC shares. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. 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 three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.25.

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.