Foresight Group Ltd Liability Partnership Reduces Stake in Commercial Metals (NYSE:CMC)

Foresight Group Ltd Liability Partnership lowered its holdings in Commercial Metals (NYSE:CMC) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,713 shares of the basic materials company’s stock after selling 1,414 shares during the period. Foresight Group Ltd Liability Partnership’s holdings in Commercial Metals were worth $534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Boston Partners raised its holdings in shares of 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 acquiring an additional 3,063,241 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 18,205 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 acquiring an additional 25,816 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Commercial Metals in the 2nd quarter valued at about $50,132,000. Finally, American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 12,772 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

CMC opened at $53.48 on Wednesday. The stock’s 50 day simple moving average is $53.02 and its 200 day simple moving average is $54.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $61.26. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 11.14 and a beta of 1.14.

Commercial Metals Announces Dividend

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 given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Commercial Metals’s payout ratio is 15.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the company a “market perform” rating in a report on Friday. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Bank of America decreased their price objective on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.