Commercial Metals (NYSE:CMC) Stock Position Lifted by Seizert Capital Partners LLC

Seizert Capital Partners LLC grew its position in Commercial Metals (NYSE:CMC) by 32.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,873 shares of the basic materials company’s stock after acquiring an additional 18,600 shares during the quarter. Seizert Capital Partners LLC owned approximately 0.07% of Commercial Metals worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CMC. Boston Partners raised its holdings in shares of Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after purchasing an additional 3,063,241 shares during the period. Victory Capital Management Inc. grew its position in shares of Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after buying an additional 41,206 shares during the last quarter. Principal Financial Group Inc. raised its stake in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares during the period. Bank of New York Mellon Corp lifted its holdings in Commercial Metals by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock worth $71,283,000 after acquiring an additional 18,205 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Commercial Metals by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock valued at $68,160,000 after acquiring an additional 25,816 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group assumed 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 analysts have rated the stock with a hold rating and three have given a buy rating to the 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 Price Performance

Shares of CMC opened at $59.35 on Friday. Commercial Metals has a one year low of $43.52 and a one year high of $63.40. The stock’s fifty day moving average is $54.47 and its 200-day moving average is $54.57. 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 price-to-earnings-growth ratio of 2.61 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Equities analysts anticipate that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.21%. Commercial Metals’s payout ratio is 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.