US Bancorp DE Buys 15,841 Shares of Commercial Metals (NYSE:CMC)

US Bancorp DE boosted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 1,172.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,192 shares of the basic materials company's stock after buying an additional 15,841 shares during the quarter. US Bancorp DE's holdings in Commercial Metals were worth $945,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Commercial Metals by 61.9% during the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company's stock worth $3,941,000 after purchasing an additional 25,642 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Commercial Metals by 0.9% in the first quarter. Texas Permanent School Fund Corp now owns 101,862 shares of the basic materials company's stock worth $5,986,000 after buying an additional 873 shares during the last quarter. Duality Advisers LP raised its stake in shares of Commercial Metals by 128.1% in the first quarter. Duality Advisers LP now owns 14,125 shares of the basic materials company's stock valued at $830,000 after buying an additional 7,933 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Commercial Metals by 18.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 42,577 shares of the basic materials company's stock valued at $2,502,000 after buying an additional 6,506 shares during the last quarter. Finally, Quantum Private Wealth LLC lifted its position in shares of Commercial Metals by 55.6% during the 1st quarter. Quantum Private Wealth LLC now owns 10,918 shares of the basic materials company's stock valued at $642,000 after buying an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

Shares of CMC traded up $1.19 during midday trading on Friday, hitting $62.24. 1,234,647 shares of the company traded hands, compared to its average volume of 965,224. The stock has a 50-day moving average of $53.50 and a 200-day moving average of $54.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a one year low of $43.52 and a one year high of $62.94. The firm has a market cap of $7.09 billion, a P/E ratio of 15.03, a PEG ratio of 2.52 and a beta of 1.14.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (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 firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.07 billion. As a group, sell-side analysts predict that Commercial Metals will post 4.66 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals's dividend payout ratio is 17.39%.

Wall Street Analyst Weigh In

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

Commercial Metals Company 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.