304,429 Shares in Commercial Metals (NYSE:CMC) Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Commercial Metals (NYSE:CMC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 304,429 shares of the basic materials company's stock, valued at approximately $16,731,000. Caisse DE Depot ET Placement DU Quebec owned about 0.27% of Commercial Metals as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CMC. nVerses Capital LLC purchased a new position in shares of Commercial Metals in the third quarter valued at $66,000. Archer Investment Corp acquired a new stake in shares of Commercial Metals in the second quarter valued at $77,000. GAMMA Investing LLC grew its position in Commercial Metals by 21.9% in the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock worth $86,000 after buying an additional 282 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Commercial Metals in the second quarter worth approximately $129,000. Finally, KBC Group NV lifted its position in shares of Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock valued at $170,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Up 2.6 %

Shares of CMC traded up $1.63 during trading hours on Monday, hitting $63.32. 771,974 shares of the company were exchanged, compared to its average volume of 857,926. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The company has a market cap of $7.22 billion, a PE ratio of 14.90, a PEG ratio of 2.74 and a beta of 1.14. The firm's 50 day moving average is $56.45 and its 200-day moving average is $54.86. Commercial Metals has a 52 week low of $44.93 and a 52 week high of $63.75.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 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 firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, equities research analysts forecast that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is 17.39%.

Wall Street Analyst Weigh In

CMC has been the subject of several research analyst reports. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a "market perform" rating in a research note on Friday, October 18th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday. They set a "buy" rating and a $75.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price for the company. Finally, Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.20.

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.