CWA Asset Management Group LLC Invests $387,000 in Commercial Metals (NYSE:CMC)

CWA Asset Management Group LLC acquired a new stake in Commercial Metals (NYSE:CMC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,044 shares of the basic materials company’s stock, valued at approximately $387,000.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Commercial Metals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after acquiring an additional 20,751 shares in the last quarter. Boston Partners raised its position in shares of Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after buying an additional 237,477 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 buying an additional 67,068 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Commercial Metals by 13.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,905 shares of the basic materials company’s stock worth $758,000 after acquiring an additional 1,545 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMC. Jefferies Financial Group assumed coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research lowered 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 stock a “market perform” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Stock Performance

CMC stock opened at $62.65 on Tuesday. The company has a 50 day moving average price of $53.68 and a 200 day moving average price of $54.40. Commercial Metals has a fifty-two week low of $43.52 and a fifty-two week high of $63.40. 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 stock has a market capitalization of $7.14 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The firm had revenue of $2 billion for 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%. Analysts forecast that Commercial Metals will post 4.66 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s payout ratio is 17.39%.

Commercial Metals 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.