Verdence Capital Advisors LLC Raises Stock Holdings in Commercial Metals (NYSE:CMC)

Verdence Capital Advisors LLC lifted its holdings in shares of Commercial Metals (NYSE:CMC) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,160 shares of the basic materials company’s stock after acquiring an additional 287 shares during the period. Verdence Capital Advisors LLC’s holdings in Commercial Metals were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CMC. nVerses Capital LLC purchased a new position in Commercial Metals during the 3rd quarter worth $66,000. Archer Investment Corp purchased a new position in shares of Commercial Metals during the second quarter worth about $77,000. GAMMA Investing LLC raised its stake in 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Commercial Metals during the 2nd quarter valued at approximately $129,000. Finally, BOKF NA lifted its position in Commercial Metals by 45.7% during the 1st quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock worth $197,000 after acquiring an additional 1,051 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Price Performance

Commercial Metals stock opened at $62.65 on Tuesday. 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 one year low of $43.52 and a one year high of $63.40. The company has a market cap of $7.14 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The business has a fifty day moving average of $53.68 and a two-hundred day moving average of $54.40.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, analysts predict that Commercial Metals will post 4.66 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CMC shares. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group began coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Finally, BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Three equities research 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 a consensus rating of “Moderate Buy” and a consensus 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.