US Bancorp DE Acquires 15,841 Shares of Commercial Metals (NYSE:CMC)

US Bancorp DE lifted its holdings in shares of Commercial Metals (NYSE:CMC) by 1,172.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,192 shares of the basic materials company’s stock after acquiring an additional 15,841 shares during the quarter. US Bancorp DE’s holdings in Commercial Metals were worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMC. BNP Paribas Financial Markets boosted its stake in shares of Commercial Metals by 61.9% during the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after acquiring an additional 25,642 shares during the period. Texas Permanent School Fund Corp boosted its stake in Commercial Metals by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 101,862 shares of the basic materials company’s stock valued at $5,986,000 after purchasing an additional 873 shares during the period. Duality Advisers LP boosted its stake in Commercial Metals by 128.1% in the 1st quarter. Duality Advisers LP now owns 14,125 shares of the basic materials company’s stock valued at $830,000 after purchasing an additional 7,933 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Commercial Metals by 18.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 42,577 shares of the basic materials company’s stock valued at $2,502,000 after purchasing an additional 6,506 shares during the period. Finally, Quantum Private Wealth LLC boosted its stake in Commercial Metals by 55.6% in the 1st quarter. Quantum Private Wealth LLC now owns 10,918 shares of the basic materials company’s stock valued at $642,000 after purchasing an additional 3,900 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Price Performance

Commercial Metals stock opened at $62.26 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. Commercial Metals has a 52 week low of $43.52 and a 52 week high of $62.94. The stock has a market capitalization of $7.09 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14. The stock has a fifty day moving average of $53.50 and a 200-day moving average of $54.33.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.18 per share. 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 1.16%. Commercial Metals’s dividend payout ratio (DPR) is currently 17.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals presently has an average rating of “Moderate Buy” and an average target price of $65.25.

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.