Panagora Asset Management Inc. Has $16.62 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Panagora Asset Management Inc. grew its holdings in Commercial Metals (NYSE:CMC - Free Report) by 15.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 302,252 shares of the basic materials company's stock after acquiring an additional 41,495 shares during the quarter. Panagora Asset Management Inc. owned 0.26% of Commercial Metals worth $16,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Commercial Metals during the first quarter valued at approximately $28,000. SYSTM Wealth Solutions LLC purchased a new stake in shares of Commercial Metals during the first quarter worth approximately $44,000. GAMMA Investing LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth approximately $74,000. Quest Partners LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth approximately $123,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Commercial Metals during the second quarter worth approximately $129,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Up 0.5 %

Shares of CMC traded up $0.24 during mid-day trading on Friday, reaching $53.57. The company's stock had a trading volume of 839,168 shares, compared to its average volume of 862,983. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The stock has a market cap of $6.16 billion, a PE ratio of 11.09 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The company's 50 day moving average is $54.93 and its 200 day moving average is $55.01.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $2.02 EPS. The firm's quarterly revenue was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Commercial Metals will post 4.71 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals's dividend payout ratio (DPR) is presently 15.00%.

Wall Street Analysts Forecast Growth

CMC has been the topic of a number of recent research reports. StockNews.com lowered Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, June 20th. Bank of America decreased their price target on Commercial Metals from $70.00 to $69.00 and set a "buy" rating on the stock in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.50.

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.