Commercial Metals (NYSE:CMC) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in Commercial Metals (NYSE:CMC) by 25.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,610 shares of the basic materials company’s stock after acquiring an additional 2,156 shares during the quarter. Sanctuary Advisors LLC’s holdings in Commercial Metals were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Dallas Securities Inc. grew its holdings in Commercial Metals by 0.8% in the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 185 shares during the period. Tectonic Advisors LLC grew its stake in Commercial Metals by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock valued at $977,000 after acquiring an additional 272 shares during the period. Assetmark Inc. increased its holdings in Commercial Metals by 6.4% in the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 277 shares in the last quarter. Inspire Investing LLC raised its position in Commercial Metals by 4.6% during the second quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 284 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in Commercial Metals by 4.2% during the third quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 287 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Commercial Metals stock opened at $50.50 on Thursday. The firm has a 50 day simple moving average of $57.64 and a 200-day simple moving average of $55.07. 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 stock has a market cap of $5.76 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. Commercial Metals’s payout ratio is 17.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group assumed 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 for the company. UBS Group reissued a “sell” rating and set a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley assumed coverage on Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective for the company. Finally, Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average target price of $65.33.

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.