Commercial Metals (NYSE:CMC) Position Trimmed by Swiss National Bank

Swiss National Bank trimmed its stake in Commercial Metals (NYSE:CMC) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,600 shares of the basic materials company’s stock after selling 3,100 shares during the quarter. Swiss National Bank owned 0.20% of Commercial Metals worth $12,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Commercial Metals by 13.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,905 shares of the basic materials company’s stock valued at $758,000 after buying an additional 1,545 shares during the period. BOKF NA boosted its position in Commercial Metals by 45.7% during the first quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 1,051 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Commercial Metals by 11.9% in the first 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Commercial Metals in the 1st quarter worth about $558,000. Finally, Janus Henderson Group PLC raised its stake in shares of Commercial Metals by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock worth $68,160,000 after purchasing an additional 25,816 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Up 1.3 %

Shares of CMC stock opened at $61.22 on Friday. The business’s 50 day moving average is $55.52 and its two-hundred day moving average is $54.73. 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 12 month low of $43.52 and a 12 month high of $63.40. The company has a market cap of $6.97 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The firm 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%. Equities analysts predict that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. 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 target for the company. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.