Algert Global LLC Lowers Stock Position in Commercial Metals (NYSE:CMC)

Algert Global LLC trimmed its stake in Commercial Metals (NYSE:CMC) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 54,344 shares of the basic materials company’s stock after selling 5,990 shares during the period. Algert Global LLC’s holdings in Commercial Metals were worth $2,987,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Commercial Metals in the third quarter valued at approximately $66,000. Archer Investment Corp purchased a new stake in shares of Commercial Metals in the 2nd quarter valued at $77,000. GAMMA Investing LLC lifted its stake in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals during the 2nd quarter valued at about $129,000. Finally, KBC Group NV grew its position in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after acquiring an additional 425 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group began coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.25.

Commercial Metals Stock Down 0.3 %

CMC stock opened at $62.15 on Wednesday. Commercial Metals has a fifty-two week low of $43.52 and a fifty-two week high of $63.40. The company’s 50 day moving average price is $55.74 and its 200 day moving average price is $54.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.63 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 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 analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, equities research analysts anticipate that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) 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.