JPMorgan Chase & Co. Acquires 66,092 Shares of Commercial Metals (NYSE:CMC)

JPMorgan Chase & Co. raised its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,081,153 shares of the basic materials company's stock after acquiring an additional 66,092 shares during the period. JPMorgan Chase & Co. owned approximately 0.95% of Commercial Metals worth $59,420,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new position in Commercial Metals during the second quarter valued at approximately $50,132,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company's stock valued at $68,455,000 after buying an additional 686,519 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Commercial Metals in the 3rd quarter valued at $16,731,000. Van ECK Associates Corp raised its stake in Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company's stock worth $21,570,000 after buying an additional 282,511 shares during the period. Finally, AQR Capital Management LLC raised its stake in Commercial Metals by 17.5% during the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company's stock worth $42,203,000 after buying an additional 115,326 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

CMC has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price target for the company. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday. BMO Capital Markets reduced their price target on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a report on Friday. Morgan Stanley began coverage on shares of Commercial Metals in a report on Thursday, December 19th. They set an "equal weight" rating and a $65.00 price objective on the stock. Finally, UBS Group reaffirmed a "sell" rating and issued a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of "Hold" and a consensus price target of $64.67.

Commercial Metals Stock Down 0.5 %

NYSE:CMC traded down $0.26 on Friday, hitting $48.89. 1,402,022 shares of the company's stock were exchanged, compared to its average volume of 1,115,511. The firm has a 50-day moving average price of $57.06 and a 200-day moving average price of $55.03. Commercial Metals has a 52 week low of $47.42 and a 52 week high of $64.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company has a market cap of $5.57 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

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

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, January 16th. Commercial Metals's dividend payout ratio (DPR) is presently 17.39%.

About Commercial Metals

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.