Royce & Associates LP Has $23.67 Million Position in Commercial Metals (NYSE:CMC)

Royce & Associates LP raised its holdings in Commercial Metals (NYSE:CMC) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 430,717 shares of the basic materials company’s stock after acquiring an additional 37,920 shares during the quarter. Royce & Associates LP owned about 0.38% of Commercial Metals worth $23,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMC. Russell Investments Group Ltd. boosted its stake in Commercial Metals by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after acquiring an additional 20,751 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Commercial Metals by 4.7% during the first quarter. ProShare Advisors LLC now owns 26,745 shares of the basic materials company’s stock worth $1,572,000 after purchasing an additional 1,189 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Commercial Metals during the first quarter worth $4,901,000. State Board of Administration of Florida Retirement System boosted its position in shares of Commercial Metals by 22.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 40,864 shares of the basic materials company’s stock worth $2,402,000 after purchasing an additional 7,405 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Commercial Metals by 13.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,905 shares of the basic materials company’s stock worth $758,000 after purchasing an additional 1,545 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Down 0.1 %

CMC opened at $59.39 on Friday. The stock has a market capitalization of $6.77 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.61 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 firm’s fifty day simple moving average is $54.47 and its 200 day simple moving average is $54.57. 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) last issued 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. As a group, research analysts anticipate that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.21%. Commercial Metals’s payout ratio is currently 17.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CMC shares. 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 target on the stock. 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, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

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.