Commercial Metals Company $CMC Shares Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. increased its stake in Commercial Metals Company (NYSE:CMC) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,953 shares of the basic materials company’s stock after purchasing an additional 2,073 shares during the quarter. Commercial Metals accounts for 0.9% of Verity Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Verity Asset Management Inc.’s holdings in Commercial Metals were worth $1,954,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CMC. National Bank of Canada FI grew its position in Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after buying an additional 244 shares during the period. Signaturefd LLC boosted its stake in shares of Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 302 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Commercial Metals during the 1st quarter worth approximately $47,000. UMB Bank n.a. grew its holdings in shares of Commercial Metals by 77.8% in the 2nd quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 610 shares during the period. Finally, Harbour Investments Inc. grew its holdings in shares of Commercial Metals by 17.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock worth $90,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. Jefferies Financial Group set a $70.00 price target on Commercial Metals and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group raised their target price on shares of Commercial Metals from $69.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and an average price target of $63.80.

Commercial Metals Stock Performance

NYSE CMC opened at $59.43 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The business has a fifty day moving average of $58.61 and a 200-day moving average of $52.90. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 78.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.32.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals’s payout ratio is 94.74%.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson acquired 1,722 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was acquired at an average price of $58.09 per share, with a total value of $100,030.98. Following the completion of the transaction, the director directly owned 6,722 shares in the company, valued at approximately $390,480.98. This represents a 34.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.