Victory Capital Management Inc. Has $117.45 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Victory Capital Management Inc. lessened its stake in Commercial Metals (NYSE:CMC - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,135,753 shares of the basic materials company's stock after selling 133,598 shares during the quarter. Victory Capital Management Inc. owned 1.86% of Commercial Metals worth $117,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Amalgamated Bank increased its position in Commercial Metals by 1.2% in the 4th quarter. Amalgamated Bank now owns 69,130 shares of the basic materials company's stock worth $3,459,000 after purchasing an additional 825 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Commercial Metals by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,416,800 shares of the basic materials company's stock valued at $70,897,000 after acquiring an additional 31,365 shares during the last quarter. Versor Investments LP grew its position in Commercial Metals by 56.2% in the fourth quarter. Versor Investments LP now owns 15,936 shares of the basic materials company's stock worth $797,000 after acquiring an additional 5,736 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth $1,549,000. Finally, QRG Capital Management Inc. increased its stake in shares of Commercial Metals by 8.1% during the 4th quarter. QRG Capital Management Inc. now owns 16,215 shares of the basic materials company's stock worth $811,000 after purchasing an additional 1,213 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

NYSE CMC traded down $0.23 during trading on Friday, hitting $49.81. The company's stock had a trading volume of 682,035 shares, compared to its average volume of 860,128. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $61.26. The firm has a market cap of $5.73 billion, a P/E ratio of 10.38 and a beta of 1.15. The firm has a 50 day moving average price of $54.60 and a 200 day moving average price of $54.89. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business's quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 EPS. Equities research analysts forecast that Commercial Metals will post 4.53 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.72 annualized dividend and a yield of 1.45%. Commercial Metals's dividend payout ratio (DPR) is 15.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMC shares. StockNews.com downgraded shares of Commercial Metals from a "buy" rating to a "hold" rating in a research report on Thursday, June 20th. Bank of America cut their price objective 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. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a research report on Tuesday. They set a "buy" rating and a $65.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.40.

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.