Blue Trust Inc. Boosts Stake in Commercial Metals (NYSE:CMC)

Blue Trust Inc. raised its position in shares of Commercial Metals (NYSE:CMC) by 12.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,508 shares of the basic materials company’s stock after buying an additional 826 shares during the quarter. Blue Trust Inc.’s holdings in Commercial Metals were worth $413,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMC. Russell Investments Group Ltd. raised its position in shares of 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 buying an additional 20,751 shares in the last quarter. Boston Partners lifted its stake in shares of 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 valued at $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Commercial Metals by 61.9% in the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after purchasing an additional 25,642 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Commercial Metals by 388.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after purchasing an additional 237,477 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Commercial Metals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock valued at $37,075,000 after buying an additional 67,068 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CMC. 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 report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Stock Performance

Commercial Metals stock opened at $51.27 on Thursday. Commercial Metals has a fifty-two week low of $39.94 and a fifty-two week high of $61.26. The company has a market capitalization of $5.90 billion, a PE ratio of 10.68 and a beta of 1.14. The company has a 50 day moving average price of $53.02 and a 200-day moving average price of $54.36. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders 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 1.40%. The ex-dividend date of this dividend 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.