Commercial Metals (NYSE:CMC) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Commercial Metals (NYSE:CMC) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 847,116 shares of the basic materials company’s stock after acquiring an additional 12,772 shares during the quarter. American Century Companies Inc. owned about 0.74% of Commercial Metals worth $46,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Commercial Metals in the fourth quarter worth $697,000. Vanguard Personalized Indexing Management LLC raised its stake in Commercial Metals by 126.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,691 shares of the basic materials company’s stock worth $835,000 after acquiring an additional 9,329 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Commercial Metals by 9.4% during the 4th quarter. Great Lakes Advisors LLC now owns 6,846 shares of the basic materials company’s stock worth $343,000 after acquiring an additional 586 shares during the period. Norges Bank purchased a new stake in Commercial Metals during the 4th quarter valued at about $94,722,000. Finally, UBS Group AG increased its holdings in shares of Commercial Metals by 30.0% in the fourth quarter. UBS Group AG now owns 134,549 shares of the basic materials company’s stock valued at $6,733,000 after purchasing an additional 31,018 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CMC shares. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Finally, Bank of America cut their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. 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, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus target price of $61.40.

Commercial Metals Stock Up 0.5 %

Shares of CMC stock opened at $51.43 on Tuesday. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26. The stock has a market cap of $5.91 billion, a P/E ratio of 10.71 and a beta of 1.15. The stock has a 50 day moving average of $54.24 and a 200 day moving average of $54.72. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 EPS. As a group, sell-side analysts expect that Commercial Metals will post 4.33 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals’s dividend payout ratio (DPR) is presently 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.