Commercial Metals (NYSE:CMC) Shares Acquired by Versor Investments LP

Versor Investments LP increased its holdings in shares of Commercial Metals (NYSE:CMC) by 45.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,454 shares of the basic materials company’s stock after buying an additional 4,200 shares during the period. Versor Investments LP’s holdings in Commercial Metals were worth $739,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in Commercial Metals in the third quarter valued at $66,000. Archer Investment Corp acquired a new stake in shares of Commercial Metals in the 2nd quarter valued at approximately $77,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals in the second quarter valued at about $129,000. Finally, Innealta Capital LLC purchased a new position in Commercial Metals in the 2nd quarter valued at approximately $195,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

NYSE:CMC opened at $61.41 on Wednesday. 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 firm has a market cap of $7.00 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a 50-day moving average of $53.89 and a 200-day moving average of $54.46. Commercial Metals has a twelve month low of $43.52 and a twelve month high of $63.40.

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 company had revenue of $2 billion for 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%. Analysts forecast that Commercial Metals will post 4.66 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.18 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. Commercial Metals’s payout ratio is presently 17.39%.

Wall Street Analyst Weigh In

CMC has been the topic of a number of analyst reports. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

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.