Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Commercial Metals (NYSE:CMC)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Commercial Metals (NYSE:CMC) by 6.5% during the second quarter, Holdings Channel.com reports. The firm owned 27,425 shares of the basic materials company’s stock after buying an additional 1,679 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commercial Metals were worth $1,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMC. Rise Advisors LLC purchased a new position in Commercial Metals in the 1st quarter valued at about $28,000. SYSTM Wealth Solutions LLC purchased a new position in shares of Commercial Metals during the 1st quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares during the period. Quest Partners LLC purchased a new position in shares of Commercial Metals during the 4th quarter worth about $123,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Commercial Metals during the 2nd quarter worth about $129,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 0.5 %

NYSE CMC opened at $53.59 on Monday. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The company’s 50 day moving average price is $54.91 and its 200 day moving average price is $55.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.16 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm posted $2.02 earnings per share. Commercial Metals’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Commercial Metals will post 4.53 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals’s dividend payout ratio (DPR) is 15.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMC. Bank of America cut their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and a consensus price target of $60.50.

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.