Royce & Associates LP Raises Stake in Commercial Metals (CMC)

Royce & Associates LP lifted its stake in shares of Commercial Metals (NYSE:CMC) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,044,844 shares of the basic materials company’s stock after acquiring an additional 41,300 shares during the period. Royce & Associates LP owned approximately 0.89% of Commercial Metals worth $21,440,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Commercial Metals by 79.2% in the second quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 3,822 shares in the last quarter. GSA Capital Partners LLP bought a new position in Commercial Metals in the third quarter valued at $207,000. Global Financial Private Capital LLC bought a new position in Commercial Metals in the third quarter valued at $244,000. NumerixS Investment Technologies Inc grew its position in Commercial Metals by 62.9% in the second quarter. NumerixS Investment Technologies Inc now owns 15,100 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 5,832 shares in the last quarter. Finally, Cim Investment Mangement Inc. bought a new position in Commercial Metals in the second quarter valued at $359,000. 87.03% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. Seaport Global Securities assumed coverage on shares of Commercial Metals in a research report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 target price for the company. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a “hold” rating in a research report on Friday, October 26th. Deutsche Bank downgraded shares of Commercial Metals to a “buy” rating in a research report on Tuesday, October 2nd. Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research report on Monday, August 13th. Finally, Citigroup decreased their target price on shares of Commercial Metals from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Commercial Metals presently has a consensus rating of “Hold” and a consensus target price of $24.13.

Commercial Metals stock opened at $19.27 on Monday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.93 and a beta of 1.25. Commercial Metals has a 1-year low of $17.26 and a 1-year high of $26.72. The company has a quick ratio of 2.75, a current ratio of 3.83 and a debt-to-equity ratio of 0.76.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. On average, research analysts anticipate that Commercial Metals will post 2.25 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Tuesday, November 6th. Commercial Metals’s dividend payout ratio is currently 32.21%.

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Commercial Metals Company Profile

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

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