Moran Wealth Management LLC Has $3.32 Million Holdings in Commercial Metals (NYSE:CMC)

Moran Wealth Management LLC grew its position in Commercial Metals (NYSE:CMC - Free Report) by 336.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,372 shares of the basic materials company's stock after purchasing an additional 46,547 shares during the period. Moran Wealth Management LLC owned approximately 0.05% of Commercial Metals worth $3,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Commercial Metals in the 3rd quarter worth about $66,000. Archer Investment Corp bought a new position in shares of Commercial Metals in the second quarter valued at approximately $77,000. GAMMA Investing LLC boosted its holdings in shares of Commercial Metals by 21.9% in the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Commercial Metals in the second quarter valued at approximately $129,000. Finally, KBC Group NV boosted its holdings in shares of Commercial Metals by 15.9% in the third 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 own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CMC shares. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a "buy" rating and a $65.00 price objective for the company. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the company a "market perform" rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.25.

Commercial Metals Price Performance

CMC stock traded up $0.58 on Thursday, hitting $60.30. 58,798 shares of the company's stock traded hands, compared to its average volume of 862,031. Commercial Metals has a 1-year low of $43.52 and a 1-year high of $63.40. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.56 and a beta of 1.14. The stock has a fifty day moving average of $55.10 and a 200-day moving average of $54.66. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

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 firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, analysts forecast that Commercial Metals will post 4.35 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. Shareholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.19%. Commercial Metals's dividend payout ratio is presently 17.39%.

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.