Raymond James & Associates Decreases Stake in Commercial Metals (NYSE:CMC)

Raymond James & Associates reduced its holdings in Commercial Metals (NYSE:CMC - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,160 shares of the basic materials company's stock after selling 11,556 shares during the period. Raymond James & Associates owned approximately 0.18% of Commercial Metals worth $11,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMC. nVerses Capital LLC acquired a new stake in Commercial Metals during the third quarter worth about $66,000. Archer Investment Corp acquired a new stake in Commercial Metals during the second quarter worth about $77,000. GAMMA Investing LLC increased its position in shares of Commercial Metals by 21.9% during 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Commercial Metals during the second quarter valued at about $129,000. Finally, Innealta Capital LLC acquired a new stake in shares of Commercial Metals during the second quarter valued at about $195,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Up 0.9 %

Shares of CMC stock traded up $0.47 during trading on Tuesday, reaching $54.79. The company's stock had a trading volume of 941,801 shares, compared to its average volume of 860,471. 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 has a market capitalization of $6.30 billion, a price-to-earnings ratio of 11.41 and a beta of 1.14. The stock's 50-day moving average price is $52.91 and its 200 day moving average price is $54.22. Commercial Metals has a 1-year low of $41.86 and a 1-year high of $61.26.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is currently 15.00%.

Analysts Set New Price Targets

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

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.