B. Metzler seel. Sohn & Co. Holding AG Invests $1.01 Million in Commercial Metals (NYSE:CMC)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Commercial Metals (NYSE:CMC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,344 shares of the basic materials company’s stock, valued at approximately $1,008,000.

Other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Commercial Metals during the 3rd quarter worth approximately $66,000. Archer Investment Corp purchased a new position in Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC grew 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 last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals during the 2nd quarter worth approximately $129,000. Finally, KBC Group NV grew its stake in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.3 %

CMC opened at $61.22 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The business has a 50 day simple moving average of $55.52 and a 200-day simple moving average of $54.73. The stock has a market capitalization of $6.97 billion, a P/E ratio of 14.79, a P/E/G ratio of 2.60 and a beta of 1.14. Commercial Metals has a 12 month low of $43.52 and a 12 month high of $63.40.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, equities analysts anticipate that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analysts Set New Price Targets

CMC has been the topic of a number of research reports. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. 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 target price on the stock. Finally, BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company 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.