Wellington Management Group LLP Buys 113,156 Shares of Commercial Metals (NYSE:CMC)

Wellington Management Group LLP boosted its stake in Commercial Metals (NYSE:CMC - Free Report) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 714,808 shares of the basic materials company's stock after purchasing an additional 113,156 shares during the period. Wellington Management Group LLP owned about 0.63% of Commercial Metals worth $39,286,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. State Street Corp increased its position in Commercial Metals by 0.4% during the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock valued at $320,439,000 after purchasing an additional 24,665 shares during the period. Systematic Financial Management LP increased its position in shares of Commercial Metals by 8.1% during the third quarter. Systematic Financial Management LP now owns 549,935 shares of the basic materials company's stock worth $30,224,000 after buying an additional 40,972 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Commercial Metals by 122.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company's stock worth $68,455,000 after buying an additional 686,519 shares during the last quarter. HighTower Advisors LLC raised its stake in Commercial Metals by 82.6% during the third quarter. HighTower Advisors LLC now owns 15,928 shares of the basic materials company's stock worth $874,000 after buying an additional 7,207 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in Commercial Metals by 264.5% in the third quarter. Edgestream Partners L.P. now owns 129,838 shares of the basic materials company's stock valued at $7,136,000 after buying an additional 94,221 shares during the period. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMC shares. Wolfe Research lowered Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 target price for the company. UBS Group restated a "sell" rating and set a $56.00 price target (down from $62.00) on shares of Commercial Metals in a report on Thursday. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 price objective for the company. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.40.

Commercial Metals Stock Down 4.2 %

Commercial Metals stock traded down $2.56 during mid-day trading on Thursday, reaching $59.04. The stock had a trading volume of 638,346 shares, compared to its average volume of 852,493. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. Commercial Metals has a fifty-two week low of $45.87 and a fifty-two week high of $64.53. The stock's 50-day simple moving average is $57.71 and its 200-day simple moving average is $55.18. The firm has a market capitalization of $6.73 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly 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 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, sell-side analysts forecast that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals's payout ratio is presently 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.