Commercial Metals (NYSE:CMC) Stake Raised by Seizert Capital Partners LLC

Seizert Capital Partners LLC grew its holdings in shares of Commercial Metals (NYSE:CMC) by 32.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 75,873 shares of the basic materials company’s stock after purchasing an additional 18,600 shares during the period. Seizert Capital Partners LLC’s holdings in Commercial Metals were worth $4,170,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in Commercial Metals by 9.7% during the third quarter. Royce & Associates LP now owns 430,717 shares of the basic materials company’s stock worth $23,672,000 after buying an additional 37,920 shares in the last quarter. KBC Group NV lifted 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 valued at $170,000 after acquiring an additional 425 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock worth $119,646,000 after acquiring an additional 41,206 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Commercial Metals by 7.4% in the 3rd quarter. GSA Capital Partners LLP now owns 17,171 shares of the basic materials company’s stock worth $944,000 after acquiring an additional 1,179 shares during the last quarter. Finally, Versor Investments LP raised its position in shares of Commercial Metals by 45.4% during the third quarter. Versor Investments LP now owns 13,454 shares of the basic materials company’s stock worth $739,000 after purchasing an additional 4,200 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.1 %

Shares of Commercial Metals stock opened at $59.35 on Friday. Commercial Metals has a 1 year low of $43.52 and a 1 year high of $63.40. The company has a market cap of $6.76 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.61 and a beta of 1.14. 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 stock has a 50-day moving average price of $54.47 and a 200 day moving average price of $54.57.

Commercial Metals (NYSE:CMC) last posted its quarterly 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). The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. As a group, analysts expect that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of recent analyst reports. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group started coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. Finally, BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Three investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Company 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.