SpiderRock Advisors LLC Buys 14,336 Shares of Commercial Metals (NYSE:CMC)

SpiderRock Advisors LLC grew its holdings in Commercial Metals (NYSE:CMC - Free Report) by 134.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,038 shares of the basic materials company's stock after buying an additional 14,336 shares during the quarter. SpiderRock Advisors LLC's holdings in Commercial Metals were worth $1,376,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Boston Partners grew its position in shares of Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company's stock worth $180,752,000 after buying an additional 3,063,241 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $50,132,000. Van ECK Associates Corp increased its position in shares of Commercial Metals by 204.3% in the 3rd 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Commercial Metals by 388.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company's stock worth $17,550,000 after acquiring an additional 237,477 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in 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 acquiring an additional 136,367 shares during the period. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group began coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.25.

Commercial Metals Stock Performance

CMC stock traded up $0.52 during trading hours on Monday, hitting $62.76. 596,857 shares of the stock were exchanged, compared to its average volume of 867,239. The company has a 50-day simple moving average of $53.50 and a two-hundred day simple moving average of $54.34. The firm has a market capitalization of $7.15 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.50 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 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 released its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share 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 business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, analysts forecast that Commercial Metals will post 4.66 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.15%. Commercial Metals's dividend payout ratio is currently 17.39%.

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.