JPMorgan Chase & Co. increased its holdings in shares of Commercial Metals (NYSE:CMC – Free Report) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,081,153 shares of the basic materials company’s stock after purchasing an additional 66,092 shares during the quarter. JPMorgan Chase & Co.’s holdings in Commercial Metals were worth $59,420,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals during the second quarter worth about $50,132,000. Jacobs Levy Equity Management Inc. lifted its stake in Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after acquiring an additional 686,519 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Commercial Metals during the 3rd quarter worth approximately $16,731,000. Van ECK Associates Corp grew its stake in shares of Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after acquiring an additional 282,511 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Commercial Metals by 17.5% during the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company’s stock worth $42,203,000 after acquiring an additional 115,326 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on CMC shares. The Goldman Sachs Group began coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. Morgan Stanley initiated coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective for the company. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. BMO Capital Markets reduced their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday. Finally, UBS Group reaffirmed a “sell” rating and set a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Commercial Metals has an average rating of “Hold” and an average price target of $64.67.
Commercial Metals Stock Down 0.5 %
CMC stock opened at $48.89 on Friday. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53. The business’s 50 day simple moving average is $57.06 and its 200 day simple moving average is $55.00. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.57 billion, a PE ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19.
Commercial Metals (NYSE:CMC – Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company 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%. As a group, research analysts anticipate that Commercial Metals will post 4.26 EPS for the current year.
Commercial Metals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.47%. Commercial Metals’s dividend payout ratio is currently 17.39%.
Commercial Metals Company 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.
Featured Stories
- Five stocks we like better than Commercial Metals
- Using the MarketBeat Stock Split Calculator
- Quantum Opportunity: Skywater Technology’s Long-Term Potential
- Profitably Trade Stocks at 52-Week Highs
- Nebius Group: The Rising Star in AI Infrastructure
- Dividend Capture Strategy: What You Need to Know
- MarketBeat Week in Review – 12/30 – 1/03
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC – Free Report).
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.