Orion Portfolio Solutions LLC Raises Stock Position in Commercial Metals (NYSE:CMC)

Orion Portfolio Solutions LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,707 shares of the basic materials company’s stock after acquiring an additional 419 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Commercial Metals were worth $1,798,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC acquired a new position in Commercial Metals during the 2nd quarter valued at approximately $50,132,000. Jacobs Levy Equity Management Inc. increased its position in shares of Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after acquiring an additional 686,519 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Commercial Metals in the 3rd quarter worth $16,731,000. Van ECK Associates Corp lifted its position in Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after acquiring an additional 282,511 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Commercial Metals by 163.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock valued at $11,756,000 after purchasing an additional 136,367 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on CMC shares. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Jefferies Financial Group started coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. UBS Group restated a “sell” rating and set a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research report on Thursday. Finally, BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.40.

Commercial Metals Stock Down 4.8 %

CMC opened at $58.64 on Friday. The company has a market cap of $6.69 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. Commercial Metals has a twelve month low of $45.87 and a twelve month high of $64.53. The company has a 50-day moving average price of $57.83 and a 200 day moving average price of $55.21. 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 (NYSE:CMC) last announced its 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). The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Sell-side analysts expect that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 1.23%. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

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.