Cerity Partners LLC Has $2.14 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Cerity Partners LLC boosted its stake in Commercial Metals (NYSE:CMC - Free Report) by 37.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,990 shares of the basic materials company's stock after buying an additional 10,693 shares during the period. Cerity Partners LLC's holdings in Commercial Metals were worth $2,143,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Commercial Metals during the 3rd quarter worth approximately $66,000. Archer Investment Corp acquired a new stake in Commercial Metals during the second quarter worth approximately $77,000. GAMMA Investing LLC increased its stake in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock worth $86,000 after acquiring an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Commercial Metals in the 2nd quarter valued at $129,000. Finally, KBC Group NV lifted its position in shares of Commercial Metals by 15.9% during 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 during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Up 2.6 %

Shares of CMC stock traded up $1.63 during mid-day trading on Monday, reaching $63.32. 771,974 shares of the stock traded hands, compared to its average volume of 857,926. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The stock's fifty day simple moving average is $56.45 and its two-hundred day simple moving average is $54.86. Commercial Metals has a 1-year low of $44.93 and a 1-year high of $63.75.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, research analysts anticipate that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.14%. Commercial Metals's payout ratio is 17.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMC. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a "buy" rating and a $65.00 price objective on the stock. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group initiated coverage on Commercial Metals in a report on Monday. They issued a "buy" rating and a $75.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.