Assetmark Inc. Buys 277 Shares of Commercial Metals (NYSE:CMC)

Assetmark Inc. raised its position in shares of Commercial Metals (NYSE:CMC) by 6.4% in the third quarter, HoldingsChannel reports. The fund owned 4,602 shares of the basic materials company’s stock after acquiring an additional 277 shares during the period. Assetmark Inc.’s holdings in Commercial Metals were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Commercial Metals during the third quarter worth about $66,000. Archer Investment Corp bought a new position in Commercial Metals in the 2nd quarter worth approximately $77,000. GAMMA Investing LLC boosted its holdings in Commercial Metals by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals in the 2nd quarter worth approximately $129,000. Finally, Innealta Capital LLC bought a new stake in Commercial Metals in the 2nd quarter worth approximately $195,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.1 %

CMC stock opened at $59.35 on Friday. Commercial Metals has a 12 month low of $43.52 and a 12 month high of $63.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company has a fifty day moving average price of $54.47 and a 200 day moving average price of $54.57. The company has a market cap 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 issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sell-side analysts expect that Commercial Metals will post 4.35 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid 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 dividend payout ratio (DPR) is 17.39%.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a 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 note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

About Commercial Metals

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.