Thrivent Financial for Lutherans Has $1.49 Million Holdings in Commercial Metals (NYSE:CMC)

Thrivent Financial for Lutherans trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 3.4% during the third quarter, Holdings Channel.com reports. The fund owned 27,015 shares of the basic materials company’s stock after selling 942 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Commercial Metals were worth $1,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Seizert Capital Partners LLC boosted its holdings in shares of Commercial Metals by 32.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock valued at $4,170,000 after purchasing an additional 18,600 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Commercial Metals by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock worth $16,618,000 after buying an additional 48,453 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in Commercial Metals in the second quarter valued at about $721,000. Allspring Global Investments Holdings LLC raised its stake in Commercial Metals by 2.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 250,442 shares of the basic materials company’s stock worth $13,764,000 after acquiring an additional 6,010 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Commercial Metals in the first quarter worth about $558,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of 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 assumed coverage on Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Commercial Metals presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Price Performance

CMC opened at $61.69 on Friday. Commercial Metals has a fifty-two week low of $44.78 and a fifty-two week high of $63.40. The firm has a 50-day moving average of $56.45 and a 200 day moving average of $54.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm has a market cap of $7.03 billion, a P/E ratio of 14.90, a PEG ratio of 2.73 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, research analysts expect that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

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.