Commercial Metals (NYSE:CMC) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in shares of Commercial Metals (NYSE:CMC) by 2,409.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,273 shares of the basic materials company’s stock after buying an additional 6,023 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $336,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Commercial Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock valued at $632,577,000 after buying an additional 191,345 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Commercial Metals by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,611,020 shares of the basic materials company’s stock valued at $380,859,000 after buying an additional 160,228 shares during the last quarter. Boston Partners boosted its holdings in shares of Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. Norges Bank acquired a new stake in shares of Commercial Metals during the fourth quarter worth $94,722,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Commercial Metals by 4.5% during the first quarter. Principal Financial Group Inc. now owns 1,774,666 shares of the basic materials company’s stock worth $104,297,000 after purchasing an additional 76,742 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMC. Jefferies Financial Group began coverage on Commercial Metals in a report on Tuesday. They set a “buy” rating and a $65.00 price objective on the stock. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Bank of America cut their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.40.

Commercial Metals Trading Down 0.4 %

NYSE:CMC opened at $50.72 on Thursday. The business’s 50-day moving average is $54.77 and its two-hundred day moving average is $54.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The firm has a market capitalization of $5.83 billion, a PE ratio of 10.57 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Research analysts predict that Commercial Metals will post 4.53 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Monday, July 1st were paid a $0.18 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. Commercial Metals’s dividend payout ratio (DPR) is 15.00%.

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.