Sanctuary Advisors LLC Boosts Stake in Commercial Metals (NYSE:CMC)

Sanctuary Advisors LLC grew its stake in Commercial Metals (NYSE:CMC) by 25.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,610 shares of the basic materials company’s stock after acquiring an additional 2,156 shares during the quarter. Sanctuary Advisors LLC’s holdings in Commercial Metals were worth $583,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Commercial Metals in the third quarter valued at about $66,000. Archer Investment Corp purchased a new position in shares of Commercial Metals in the 2nd quarter worth approximately $77,000. KBC Group NV grew its position in shares of Commercial Metals by 15.9% in 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. Highland Capital Management LLC purchased a new stake in Commercial Metals during the third quarter valued at approximately $206,000. Finally, Harbor Capital Advisors Inc. lifted its position in Commercial Metals by 29.7% during the third quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 870 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $50.50 on Thursday. Commercial Metals has a twelve month low of $47.42 and a twelve month high of $64.53. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.76 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The company’s 50 day moving average is $57.64 and its 200 day moving average is $55.07.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data 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). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. Commercial Metals’s payout ratio is currently 17.39%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CMC shares. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Morgan Stanley initiated coverage on Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price on the stock. The Goldman Sachs Group began coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group reiterated a “sell” rating and issued a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.33.

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.