Integrated Advisors Network LLC Purchases New Holdings in Commercial Metals (NYSE:CMC)

Integrated Advisors Network LLC acquired a new position in shares of Commercial Metals (NYSE:CMC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,212 shares of the basic materials company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of Commercial Metals by 23,390.7% in the first 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. Bank of New York Mellon Corp lifted its stake in Commercial Metals by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock worth $71,283,000 after acquiring an additional 18,205 shares in the last quarter. Janus Henderson Group PLC boosted its position in Commercial Metals by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock worth $68,160,000 after acquiring an additional 25,816 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in Commercial Metals during the 2nd quarter valued at about $50,132,000. Finally, American Century Companies Inc. increased its holdings in shares of Commercial Metals by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 847,116 shares of the basic materials company’s stock valued at $46,583,000 after purchasing an additional 12,772 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CMC shares. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.25.

Commercial Metals Stock Performance

CMC stock opened at $53.79 on Friday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.99 and a beta of 1.14. The firm has a 50 day moving average of $52.92 and a two-hundred day moving average of $54.22. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $42.07 and a 12 month high of $61.26.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s payout ratio is 17.39%.

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.