Patriot Financial Group Insurance Agency LLC Buys 1,691 Shares of Commercial Metals (NYSE:CMC)

Patriot Financial Group Insurance Agency LLC grew its stake in Commercial Metals (NYSE:CMC) by 21.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,587 shares of the basic materials company’s stock after acquiring an additional 1,691 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Commercial Metals were worth $527,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Boston Partners lifted its stake in Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Commercial Metals by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock valued at $71,283,000 after purchasing an additional 18,205 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Commercial Metals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock valued at $68,160,000 after purchasing an additional 25,816 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Commercial Metals in the 2nd quarter valued at about $50,132,000. Finally, American Century Companies Inc. lifted its stake in Commercial Metals by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 847,116 shares of the basic materials company’s stock valued at $46,583,000 after purchasing an additional 12,772 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Up 0.9 %

Shares of CMC stock opened at $54.79 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.30 billion, a P/E ratio of 11.41 and a beta of 1.14. The stock has a 50 day simple moving average of $52.91 and a 200 day simple moving average of $54.22. Commercial Metals has a 1 year low of $41.86 and a 1 year high of $61.26.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is currently 15.00%.

Analyst Ratings Changes

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