6,796 Shares in Commercial Metals (NYSE:CMC) Bought by Verition Fund Management LLC

Verition Fund Management LLC bought a new position in shares of Commercial Metals (NYSE:CMC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 6,796 shares of the basic materials company’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. bought a new position in shares of Commercial Metals in the third quarter valued at $4,345,000. Isthmus Partners LLC lifted its stake in shares of Commercial Metals by 16.9% in the third quarter. Isthmus Partners LLC now owns 6,822 shares of the basic materials company’s stock valued at $375,000 after buying an additional 986 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Commercial Metals by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 15,668 shares of the basic materials company’s stock valued at $861,000 after buying an additional 565 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Commercial Metals by 8.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,710 shares of the basic materials company’s stock valued at $1,633,000 after buying an additional 2,285 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Commercial Metals by 3.8% in the third quarter. Glenmede Trust Co. NA now owns 30,689 shares of the basic materials company’s stock valued at $1,687,000 after buying an additional 1,122 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CMC shares. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group started coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. UBS Group reaffirmed a “sell” rating and issued a $56.00 price objective (down from $62.00) on shares of Commercial Metals in a research note on Thursday. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Hold” and an average price target of $65.40.

Commercial Metals Stock Down 4.8 %

CMC opened at $58.64 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company’s 50-day moving average is $57.83 and its 200 day moving average is $55.21. Commercial Metals has a fifty-two week low of $45.87 and a fifty-two week high of $64.53. The firm has a market capitalization of $6.69 billion, a P/E ratio of 14.16, a PEG ratio of 2.73 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.07 billion. Research analysts expect that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. 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.