Royce & Associates LP Has $23.67 Million Stock Position in Commercial Metals (NYSE:CMC)

Royce & Associates LP boosted its stake in Commercial Metals (NYSE:CMC) by 9.7% during the third quarter, Holdings Channel reports. The institutional investor owned 430,717 shares of the basic materials company’s stock after buying an additional 37,920 shares during the period. Royce & Associates LP’s holdings in Commercial Metals were worth $23,672,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Dallas Securities Inc. boosted its holdings in Commercial Metals by 0.8% in the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 185 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Commercial Metals by 0.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after purchasing an additional 187 shares during the period. Tectonic Advisors LLC boosted its holdings in Commercial Metals by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock valued at $977,000 after purchasing an additional 272 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Commercial Metals by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after purchasing an additional 276 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Commercial Metals by 6.4% during the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 277 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

CMC stock opened at $59.39 on Friday. The company has a 50 day simple moving average of $54.47 and a 200 day simple moving average of $54.57. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.61 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 company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Research analysts anticipate that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed 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 1.21%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio is 17.39%.

Wall Street Analyst Weigh In

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