GSA Capital Partners LLP Purchases 1,179 Shares of Commercial Metals (NYSE:CMC)

GSA Capital Partners LLP lifted its position in shares of Commercial Metals (NYSE:CMC) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 17,171 shares of the basic materials company’s stock after buying an additional 1,179 shares during the period. GSA Capital Partners LLP’s holdings in Commercial Metals were worth $944,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Commercial Metals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after purchasing an additional 20,751 shares during the last quarter. Boston Partners grew its position in Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after acquiring an additional 3,063,241 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Commercial Metals by 388.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after acquiring an additional 237,477 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Commercial Metals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock worth $37,075,000 after acquiring an additional 67,068 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Commercial Metals by 19.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock valued at $16,618,000 after purchasing an additional 48,453 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $59.39 on Friday. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.61 and a beta of 1.14. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a twelve month low of $43.52 and a twelve month high of $63.40. The company’s fifty day moving average is $54.47 and its 200 day moving average is $54.57.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share 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 company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Sell-side analysts forecast that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. 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 17.39%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMC shares. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.