Commercial Metals (NYSE:CMC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Commercial Metals (NYSE:CMC) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,176,959 shares of the basic materials company’s stock after purchasing an additional 41,206 shares during the quarter. Victory Capital Management Inc. owned approximately 1.91% of Commercial Metals worth $119,646,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted 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 valued at $944,000 after buying an additional 1,179 shares during the period. Versor Investments LP lifted its holdings in Commercial Metals by 45.4% in the third quarter. Versor Investments LP now owns 13,454 shares of the basic materials company’s stock worth $739,000 after acquiring an additional 4,200 shares during the last quarter. Meritage Portfolio Management boosted its stake in Commercial Metals by 9.3% in the third quarter. Meritage Portfolio Management now owns 8,286 shares of the basic materials company’s stock valued at $455,000 after acquiring an additional 704 shares during the period. Tyler Stone Wealth Management grew its holdings in shares of Commercial Metals by 100.2% during the third quarter. Tyler Stone Wealth Management now owns 16,019 shares of the basic materials company’s stock valued at $880,000 after purchasing an additional 8,019 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Commercial Metals during the 3rd quarter worth approximately $290,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. 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. Finally, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. 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, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Trading Down 2.0 %

Shares of CMC stock opened at $61.41 on Wednesday. Commercial Metals has a 1 year low of $43.52 and a 1 year high of $63.40. The firm has a market capitalization of $7.00 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.69 and a beta of 1.14. The stock has a fifty day moving average of $53.89 and a two-hundred day moving average of $54.46. 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 (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion during 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%. As a group, research analysts expect that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

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.