Commercial Metals (NYSE:CMC) Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Commercial Metals (NYSE:CMC - Free Report) by 163.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 219,770 shares of the basic materials company's stock after purchasing an additional 136,367 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.19% of Commercial Metals worth $11,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CMC. Rise Advisors LLC purchased a new position in shares of Commercial Metals during the 1st quarter worth $28,000. SYSTM Wealth Solutions LLC purchased a new position in Commercial Metals during the first quarter worth about $44,000. GAMMA Investing LLC boosted its holdings in Commercial Metals by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 282 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Commercial Metals in the 2nd quarter valued at approximately $129,000. Finally, Quest Partners LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth approximately $123,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Up 0.5 %

NYSE CMC traded up $0.26 on Friday, reaching $53.59. The stock had a trading volume of 839,168 shares, compared to its average volume of 862,983. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $54.91 and a two-hundred day moving average price of $55.00. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.16 and a beta of 1.17.

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

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Monday, July 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis 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 currently 15.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CMC shares. StockNews.com cut Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, June 20th. Bank of America reduced their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a "buy" rating on the stock in a report 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.50.

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.