American International Group Inc. raised its holdings in Commercial Metals Company (NYSE:CMC) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,393 shares of the basic materials company’s stock after buying an additional 8,416 shares during the quarter. American International Group Inc. owned approximately 0.27% of Commercial Metals worth $5,983,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Capstone Asset Management Co. grew its holdings in shares of Commercial Metals by 0.5% during the 2nd quarter. Capstone Asset Management Co. now owns 14,112 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 70 shares during the period. Amalgamated Bank grew its holdings in shares of Commercial Metals by 1.6% during the 2nd quarter. Amalgamated Bank now owns 16,403 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Commercial Metals by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 522 shares during the period. Arizona State Retirement System grew its holdings in shares of Commercial Metals by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 48,800 shares of the basic materials company’s stock worth $948,000 after purchasing an additional 700 shares during the period. Finally, State Treasurer State of Michigan grew its holdings in shares of Commercial Metals by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 47,700 shares of the basic materials company’s stock worth $927,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 88.62% of the company’s stock.

Several equities analysts recently commented on the company. Clarkson Capital reissued a “sell” rating and set a $16.00 price target on shares of Commercial Metals in a research report on Tuesday, August 15th. Zacks Investment Research raised Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Tuesday, October 17th. Jefferies Group raised Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Macquarie assumed coverage on Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target on the stock. Finally, Bank of America reissued a “neutral” rating and set a $21.00 price target (up from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Commercial Metals has a consensus rating of “Hold” and an average target price of $21.50.

Commercial Metals Company (CMC) opened at $19.77 on Monday. The company has a market capitalization of $2,305.79, a P/E ratio of 26.01, a P/E/G ratio of 0.74 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. Commercial Metals Company has a 52-week low of $17.05 and a 52-week high of $24.64.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, November 7th. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

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Commercial Metals Company Profile

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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