Verity Asset Management Inc. grew its holdings in Commercial Metals (NYSE:CMC) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 40,630 shares of the basic materials company’s stock after buying an additional 2,862 shares during the quarter. Verity Asset Management Inc.’s holdings in Commercial Metals were worth $834,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Commercial Metals by 79.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 3,822 shares in the last quarter. Global Financial Private Capital LLC bought a new stake in shares of Commercial Metals in the 3rd quarter worth $244,000. NumerixS Investment Technologies Inc increased its holdings in shares of Commercial Metals by 62.9% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 15,100 shares of the basic materials company’s stock worth $320,000 after purchasing an additional 5,832 shares in the last quarter. Cim Investment Mangement Inc. bought a new stake in shares of Commercial Metals in the 2nd quarter worth $359,000. Finally, PointState Capital LP bought a new stake in shares of Commercial Metals in the 2nd quarter worth $408,000. Institutional investors and hedge funds own 88.67% of the company’s stock.
CMC has been the subject of a number of research analyst reports. Citigroup lifted their target price on Commercial Metals from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, November 6th. ValuEngine downgraded Commercial Metals from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Seaport Global Securities initiated coverage on Commercial Metals in a research note on Thursday, October 11th. They issued a “neutral” rating and a $20.00 price target on the stock. Deutsche Bank downgraded Commercial Metals to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Macquarie set a $23.00 price target on Commercial Metals and gave the stock a “hold” rating in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.13.
Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Commercial Metals had a return on equity of 12.11% and a net margin of 2.88%. On average, equities research analysts expect that Commercial Metals will post 2.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $0.48 annualized dividend and a yield of 2.50%. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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