Victory Capital Management Inc. Grows Stock Holdings in Commercial Metals (NYSE:CMC)

Victory Capital Management Inc. increased its holdings in Commercial Metals (NYSE:CMC - Free Report) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,176,959 shares of the basic materials company's stock after buying an additional 41,206 shares during the period. Victory Capital Management Inc. owned about 1.91% of Commercial Metals worth $119,646,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Dallas Securities Inc. grew its position in shares of Commercial Metals by 0.8% in the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company's stock valued at $1,222,000 after purchasing an additional 185 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Commercial Metals by 0.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company's stock valued at $1,473,000 after buying an additional 187 shares during the last quarter. Tectonic Advisors LLC increased its position in Commercial Metals by 1.6% during the third quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock worth $977,000 after buying an additional 272 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Commercial Metals by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company's stock worth $749,000 after acquiring an additional 276 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Commercial Metals by 6.4% in the third quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company's stock valued at $253,000 after acquiring an additional 277 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMC. Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report 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, 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 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Commercial Metals presently has an average rating of "Moderate Buy" and an average target price of $65.25.

Commercial Metals Trading Down 1.3 %

Shares of NYSE CMC traded down $0.78 on Wednesday, reaching $60.63. 727,892 shares of the company traded hands, compared to its average volume of 869,087. The stock has a market capitalization of $6.91 billion, a PE ratio of 14.64, a P/E/G ratio of 2.64 and a beta of 1.14. Commercial Metals has a fifty-two week low of $43.52 and a fifty-two week high of $63.40. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $54.09 and a 200 day moving average of $54.50.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. On average, equities research analysts forecast that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals's payout ratio is currently 17.39%.

Commercial Metals Company 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.