Stevens Capital Management LP purchased a new position in shares of Commercial Metals (NYSE:CMC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 39,153 shares of the basic materials company’s stock, valued at approximately $803,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Commercial Metals by 6,417.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 133,345 shares of the basic materials company’s stock worth $2,815,000 after buying an additional 131,299 shares during the period. Voya Investment Management LLC boosted its holdings in Commercial Metals by 2.9% in the 2nd quarter. Voya Investment Management LLC now owns 2,133,160 shares of the basic materials company’s stock worth $45,031,000 after buying an additional 60,443 shares during the period. Global X Management Co LLC boosted its holdings in Commercial Metals by 18.7% in the 2nd quarter. Global X Management Co LLC now owns 28,397 shares of the basic materials company’s stock worth $599,000 after buying an additional 4,481 shares during the period. OppenheimerFunds Inc. boosted its holdings in Commercial Metals by 4.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock worth $1,583,000 after buying an additional 3,041 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Commercial Metals by 9.4% in the 2nd quarter. California Public Employees Retirement System now owns 324,039 shares of the basic materials company’s stock worth $6,840,000 after buying an additional 27,795 shares during the period. 87.03% of the stock is owned by institutional investors.

Shares of NYSE:CMC opened at $18.17 on Friday. 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 has a one year low of $17.26 and a one year high of $26.72. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.19 and a beta of 1.25.

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 the Thomson Reuters’ consensus estimate of $0.43 by $0.08. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, equities analysts expect that Commercial Metals will post 2.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.64%. The ex-dividend date was Tuesday, November 6th. Commercial Metals’s payout ratio is 32.21%.

Several research analysts recently commented on the stock. Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price objective for the company in a report on Monday, August 13th. Deutsche Bank downgraded shares of Commercial Metals to a “buy” rating in a report on Tuesday, October 2nd. Citigroup raised their price objective on shares of Commercial Metals from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, November 6th. Longbow Research set a $25.00 price objective on shares of Commercial Metals and gave the stock a “buy” rating in a report on Monday, December 3rd. Finally, Seaport Global Securities assumed coverage on shares of Commercial Metals in a report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.88.

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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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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

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