Systematic Financial Management LP Buys 40,972 Shares of Commercial Metals (NYSE:CMC)

Systematic Financial Management LP lifted its holdings in Commercial Metals (NYSE:CMC - Free Report) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,935 shares of the basic materials company's stock after acquiring an additional 40,972 shares during the period. Systematic Financial Management LP owned approximately 0.48% of Commercial Metals worth $30,224,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Seizert Capital Partners LLC boosted its stake in shares of Commercial Metals by 32.5% in the third quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company's stock valued at $4,170,000 after purchasing an additional 18,600 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock valued at $80,369,000 after acquiring an additional 18,262 shares during the last quarter. Intech Investment Management LLC boosted its stake in Commercial Metals by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company's stock valued at $2,000,000 after acquiring an additional 17,010 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Commercial Metals by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company's stock valued at $16,618,000 after acquiring an additional 48,453 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in Commercial Metals during the 2nd quarter valued at $721,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Down 0.8 %

Shares of CMC stock traded down $0.47 during trading on Thursday, hitting $61.71. 475,113 shares of the company were exchanged, compared to its average volume of 853,796. 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 $7.04 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.81 and a beta of 1.15. The business's 50-day simple moving average is $56.98 and its 200 day simple moving average is $54.99. Commercial Metals has a twelve month low of $45.15 and a twelve month high of $64.53.

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 for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.07 billion. As a group, analysts forecast that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CMC. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a "market perform" rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price on the stock. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Monday. They set a "buy" rating and a $75.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.20.

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.