Rockefeller Capital Management L.P. Acquires New Stake in Commercial Metals (NYSE:CMC)

Rockefeller Capital Management L.P. bought a new position in shares of Commercial Metals (NYSE:CMC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,052 shares of the basic materials company's stock, valued at approximately $4,345,000. Rockefeller Capital Management L.P. owned 0.07% of Commercial Metals at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals during the second quarter worth $50,132,000. Van ECK Associates Corp increased its stake in shares of Commercial Metals by 204.3% in the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company's stock valued at $21,570,000 after buying an additional 282,511 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Commercial Metals by 163.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company's stock valued at $11,756,000 after buying an additional 136,367 shares during the period. AQR Capital Management LLC raised its holdings in Commercial Metals by 17.5% in the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company's stock valued at $42,203,000 after buying an additional 115,326 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Commercial Metals during the 3rd quarter worth approximately $5,662,000. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

Shares of CMC stock traded down $0.56 during trading hours on Thursday, hitting $61.62. 195,464 shares of the company were exchanged, compared to its average volume of 853,247. Commercial Metals has a 52-week low of $45.15 and a 52-week high of $64.53. The firm has a fifty day simple moving average of $56.98 and a 200 day simple moving average of $54.99. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.81 and a beta of 1.15. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.07 billion. Research analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is presently 17.39%.

Analyst Ratings Changes

Several equities analysts have issued reports on CMC shares. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday. They issued a "buy" rating and a $75.00 price target for the company. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the stock a "market perform" rating in a research report on Friday, October 18th. Jefferies Financial Group started 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. Finally, Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Commercial Metals currently has a consensus rating of "Moderate Buy" and an average target price of $67.20.

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.