Intech Investment Management LLC Has $2 Million Holdings in Commercial Metals (NYSE:CMC)

Intech Investment Management LLC increased its stake in Commercial Metals (NYSE:CMC) by 87.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,392 shares of the basic materials company’s stock after purchasing an additional 17,010 shares during the quarter. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,000,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMC. Boston Partners lifted its stake in shares of 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 worth $180,752,000 after buying an additional 3,063,241 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Commercial Metals during the 2nd quarter worth $50,132,000. Van ECK Associates Corp boosted its holdings in Commercial Metals by 204.3% during the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock valued at $21,570,000 after acquiring an additional 282,511 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after purchasing an additional 237,477 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Commercial Metals by 163.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock worth $11,756,000 after purchasing an additional 136,367 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

CMC opened at $61.22 on Monday. The stock’s 50 day simple moving average is $55.52 and its 200-day simple moving average is $54.72. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.97 billion, a PE ratio of 14.79, a P/E/G ratio of 2.60 and a beta of 1.14. Commercial Metals has a 1 year low of $43.52 and a 1 year high of $63.40.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts forecast that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 1.18%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent analyst reports. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. 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, the company has an average rating of “Moderate Buy” and an average target price of $65.25.

Commercial Metals Company 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.