Sanctuary Advisors LLC Takes Position in Commercial Metals (NYSE:CMC)

Sanctuary Advisors LLC acquired a new stake in shares of Commercial Metals (NYSE:CMC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,454 shares of the basic materials company’s stock, valued at approximately $452,000.

Other institutional investors also recently made changes to their positions in the company. First Dallas Securities Inc. lifted its holdings in shares of Commercial Metals by 0.8% during the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after acquiring an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Commercial Metals by 0.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after acquiring an additional 187 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Commercial Metals by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after acquiring an additional 276 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 282 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Commercial Metals by 4.6% during the 2nd quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 284 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CMC shares. Jefferies Financial Group started coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. 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 report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Commercial Metals has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

Commercial Metals Stock Performance

Shares of CMC stock opened at $53.67 on Thursday. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The firm has a market capitalization of $6.17 billion, a P/E ratio of 11.18 and a beta of 1.14. The company’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $54.47.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

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.