21,933 Shares in Commercial Metals (NYSE:CMC) Acquired by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new stake in shares of Commercial Metals (NYSE:CMC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,933 shares of the basic materials company's stock, valued at approximately $1,205,000. Commercial Metals accounts for about 0.8% of Semanteon Capital Management LP's investment portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in Commercial Metals by 5.8% in the third quarter. State of Alaska Department of Revenue now owns 13,361 shares of the basic materials company's stock valued at $734,000 after buying an additional 730 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Commercial Metals in the 3rd quarter worth about $206,000. Mount Yale Investment Advisors LLC bought a new stake in Commercial Metals in the 3rd quarter valued at about $300,000. Tectonic Advisors LLC boosted its stake in Commercial Metals by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock valued at $977,000 after purchasing an additional 272 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Commercial Metals by 15.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 42,854 shares of the basic materials company's stock worth $2,355,000 after purchasing an additional 5,786 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Price Performance

Shares of Commercial Metals stock traded up $2.34 on Monday, hitting $54.31. The company had a trading volume of 725,917 shares, compared to its average volume of 860,080. Commercial Metals has a 52 week low of $41.86 and a 52 week high of $61.26. The company has a market cap of $6.25 billion, a PE ratio of 11.31 and a beta of 1.14. The business has a 50-day simple moving average of $52.89 and a 200-day simple moving average of $54.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is presently 15.00%.

Wall Street Analyst Weigh In

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

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.