Commercial Metals (NYSE:CMC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Commercial Metals (NYSE:CMC) by 87.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,392 shares of the basic materials company’s stock after buying an additional 17,010 shares during the period. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Commercial Metals during the 3rd quarter worth $66,000. Archer Investment Corp acquired a new stake in Commercial Metals in the second quarter worth about $77,000. GAMMA Investing LLC grew its position in Commercial Metals by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after buying an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Commercial Metals during the 2nd quarter valued at about $129,000. Finally, KBC Group NV raised its position in shares of 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 in the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Up 1.3 %

Commercial Metals stock opened at $61.22 on Monday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. Commercial Metals has a 1 year low of $43.52 and a 1 year high of $63.40. The firm’s 50 day moving average price is $55.52 and its two-hundred day moving average price is $54.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

Commercial Metals (NYSE:CMC) last announced 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). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. On average, research analysts predict that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMC. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. 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. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.