Royce & Associates LP lifted its holdings in Commercial Metals (NYSE:CMC - Free Report) by 9.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 430,717 shares of the basic materials company's stock after purchasing an additional 37,920 shares during the period. Royce & Associates LP owned 0.38% of Commercial Metals worth $23,672,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. nVerses Capital LLC bought a new position in Commercial Metals in the 3rd quarter worth approximately $66,000. Archer Investment Corp bought a new position in Commercial Metals during the second quarter worth $77,000. GAMMA Investing LLC increased its position in Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock worth $86,000 after acquiring an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Commercial Metals in the 2nd quarter valued at $129,000. Finally, KBC Group NV boosted its holdings in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock valued at $170,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.
Commercial Metals Price Performance
Shares of CMC stock traded down $0.08 during trading hours on Friday, hitting $59.35. The company had a trading volume of 771,755 shares, compared to its average volume of 868,493. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.61 and a beta of 1.14. Commercial Metals has a 12 month low of $43.52 and a 12 month high of $63.40. The firm's fifty day moving average is $54.47 and its 200 day moving average is $54.57.
Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, sell-side analysts predict that Commercial Metals will post 4.35 EPS for the current fiscal year.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. Commercial Metals's dividend payout ratio (DPR) is presently 17.39%.
Analyst Upgrades and Downgrades
CMC has been the subject of a number of research analyst reports. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. 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 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.25.
View Our Latest Analysis on CMC
Commercial Metals Company Profile
(
Free Report)
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.
Further Reading
Before you consider Commercial Metals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Commercial Metals wasn't on the list.
While Commercial Metals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
