Commercial Metals (NYSE:CMC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Commercial Metals (NYSE:CMC) by 1.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,176,959 shares of the basic materials company’s stock after acquiring an additional 41,206 shares during the period. Victory Capital Management Inc.’s holdings in Commercial Metals were worth $119,646,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMC. Russell Investments Group Ltd. boosted its holdings in Commercial Metals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after buying an additional 20,751 shares in the last quarter. Boston Partners boosted its stake in shares of Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Commercial Metals by 388.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after acquiring an additional 237,477 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Commercial Metals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock worth $37,075,000 after purchasing an additional 67,068 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Commercial Metals by 19.1% during the second quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock valued at $16,618,000 after purchasing an additional 48,453 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group began coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. Finally, BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Price Performance

NYSE CMC opened at $61.41 on Wednesday. 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 firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.69 and a beta of 1.14. The company has a 50 day simple moving average of $53.89 and a 200-day simple moving average of $54.46. Commercial Metals has a 52-week low of $43.52 and a 52-week high of $63.40.

Commercial Metals (NYSE:CMC) last issued its earnings results 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 net margin of 6.13% and a return on equity of 12.20%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Equities research analysts predict that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s payout ratio is currently 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.