Commercial Metals Company (CMC) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in Commercial Metals Company (NYSE:CMC) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,343 shares of the basic materials company’s stock after acquiring an additional 3,394 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of Commercial Metals worth $4,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capstone Asset Management Co. boosted its stake in Commercial Metals by 0.5% in the second quarter. Capstone Asset Management Co. now owns 14,112 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 70 shares in the last quarter. Amalgamated Bank boosted its stake in Commercial Metals by 1.6% in the second quarter. Amalgamated Bank now owns 16,403 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 253 shares in the last quarter. First Midwest Bank Trust Division boosted its stake in Commercial Metals by 2.0% in the second quarter. First Midwest Bank Trust Division now owns 20,152 shares of the basic materials company’s stock valued at $392,000 after acquiring an additional 401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commercial Metals by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 522 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Commercial Metals by 0.8% in the second quarter. Stratos Wealth Partners LTD. now owns 73,442 shares of the basic materials company’s stock valued at $1,427,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 90.38% of the company’s stock.

Several research firms have issued reports on CMC. Jefferies Group LLC decreased their price objective on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday. Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup Inc. decreased their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Macquarie began coverage on shares of Commercial Metals in a research note on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 price objective for the company. Finally, Bank of America Corporation restated a “neutral” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.56.

Shares of Commercial Metals Company (NYSE CMC) opened at 19.49 on Tuesday. Commercial Metals Company has a 52 week low of $15.42 and a 52 week high of $24.64. The firm has a market cap of $2.26 billion, a P/E ratio of 30.12 and a beta of 1.22. The stock’s 50 day moving average is $19.42 and its 200 day moving average is $18.89.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). Commercial Metals had a net margin of 0.95% and a return on equity of 6.50%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned $0.01 EPS. Commercial Metals’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts predict that Commercial Metals Company will post $1.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, November 7th. Commercial Metals’s dividend payout ratio is presently 120.00%.

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About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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