Principal Financial Group Inc. Buys 17,931 Shares of Commercial Metals (NYSE:CMC)

Principal Financial Group Inc. boosted its holdings in Commercial Metals (NYSE:CMC - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,714,116 shares of the basic materials company's stock after buying an additional 17,931 shares during the period. Principal Financial Group Inc. owned approximately 1.50% of Commercial Metals worth $94,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMC. Boston Partners lifted its stake in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company's stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the period. Bank of New York Mellon Corp grew its position in shares of Commercial Metals by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company's stock worth $71,283,000 after buying an additional 18,205 shares during the period. Janus Henderson Group PLC increased its stake in shares of Commercial Metals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company's stock valued at $68,160,000 after acquiring an additional 25,816 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Commercial Metals in the 2nd quarter valued at approximately $50,132,000. Finally, American Century Companies Inc. boosted its stake in Commercial Metals by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 847,116 shares of the basic materials company's stock worth $46,583,000 after acquiring an additional 12,772 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Commercial Metals Stock Up 1.9 %

CMC traded up $1.19 during trading on Friday, hitting $62.24. The company had a trading volume of 1,234,647 shares, compared to its average volume of 965,224. The company has a market capitalization of $7.09 billion, a PE ratio of 15.03, a PEG ratio of 2.52 and a beta of 1.14. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a one year low of $43.52 and a one year high of $62.94. The firm's 50-day moving average price is $53.50 and its 200 day moving average price is $54.33.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. As a group, equities analysts expect that Commercial Metals will post 4.66 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is currently 17.39%.

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.