Inspire Investing LLC Buys 1,104 Shares of Commercial Metals (NYSE:CMC)

Inspire Investing LLC raised its stake in shares of Commercial Metals (NYSE:CMC) by 17.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,496 shares of the basic materials company’s stock after purchasing an additional 1,104 shares during the period. Inspire Investing LLC’s holdings in Commercial Metals were worth $412,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Commercial Metals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after purchasing an additional 20,751 shares during the period. Boston Partners increased its position in Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after buying an additional 3,063,241 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Commercial Metals by 61.9% during the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after buying an additional 25,642 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after acquiring an additional 237,477 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Commercial Metals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock worth $37,075,000 after acquiring an additional 67,068 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CMC shares. 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 target price for the company. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Bank of America cut their price target on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.75.

Commercial Metals Trading Up 5.1 %

Shares of CMC stock opened at $56.41 on Friday. The firm has a fifty day moving average of $52.92 and a 200-day moving average of $54.48. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 11.75 and a beta of 1.14. Commercial Metals has a 52-week low of $39.85 and a 52-week high of $61.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s dividend payout ratio is 15.00%.

Commercial Metals 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.