Commercial Metals (NYSE:CMC) Shares Acquired by Easterly Investment Partners LLC

Easterly Investment Partners LLC raised its holdings in Commercial Metals (NYSE:CMC) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 406,047 shares of the basic materials company’s stock after purchasing an additional 634 shares during the quarter. Commercial Metals accounts for approximately 1.8% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Easterly Investment Partners LLC owned 0.36% of Commercial Metals worth $22,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Commercial Metals during the third quarter valued at $66,000. Archer Investment Corp acquired a new stake in Commercial Metals in the 2nd quarter valued at $77,000. GAMMA Investing LLC increased its holdings 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 worth $86,000 after acquiring an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Commercial Metals during the second quarter worth $129,000. Finally, Innealta Capital LLC purchased a new position in Commercial Metals during the second quarter valued at $195,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMC has been the subject of several research analyst reports. 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. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.25.

Commercial Metals Stock Up 1.1 %

Shares of CMC traded up $0.69 during mid-day trading on Friday, hitting $61.74. 134,162 shares of the company’s stock were exchanged, compared to its average volume of 863,414. 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 has a fifty-two week low of $43.52 and a fifty-two week high of $62.94. The stock’s 50-day moving average is $53.33 and its 200-day moving average is $54.29. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.17 and a beta of 1.14.

Commercial Metals Dividend Announcement

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

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.