Raymond James & Associates Trims Stock Holdings in Commercial Metals (NYSE:CMC)

Raymond James & Associates reduced its holdings in shares of Commercial Metals (NYSE:CMC) by 5.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 203,160 shares of the basic materials company’s stock after selling 11,556 shares during the quarter. Raymond James & Associates’ holdings in Commercial Metals were worth $11,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CMC. Russell Investments Group Ltd. increased its position in shares of Commercial Metals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after buying an additional 20,751 shares during the period. Boston Partners grew its stake in Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after acquiring an additional 3,063,241 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Commercial Metals by 61.9% during the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after acquiring an additional 25,642 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Commercial Metals by 388.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after purchasing an additional 237,477 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Commercial Metals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock valued at $37,075,000 after purchasing an additional 67,068 shares during the period. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report 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 price target on Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Stock Up 4.5 %

Shares of NYSE:CMC opened at $54.31 on Tuesday. The firm has a fifty day moving average of $52.89 and a 200 day moving average of $54.22. Commercial Metals has a 52-week low of $41.86 and a 52-week high of $61.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The firm has a market capitalization of $6.25 billion, a PE ratio of 11.31 and a beta of 1.14.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

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.