Coldstream Capital Management Inc. Buys 415 Shares of Commercial Metals (NYSE:CMC)

Coldstream Capital Management Inc. boosted its stake in shares of Commercial Metals (NYSE:CMC) by 8.9% during the third quarter, Holdings Channel.com reports. The firm owned 5,092 shares of the basic materials company’s stock after purchasing an additional 415 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Commercial Metals were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Commercial Metals during the 3rd quarter worth $66,000. Archer Investment Corp acquired a new stake in Commercial Metals in the second quarter worth about $77,000. KBC Group NV grew its stake in shares of Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 425 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Commercial Metals during the second quarter valued at about $195,000. Finally, Highland Capital Management LLC purchased a new position in shares of Commercial Metals in the 3rd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $56.28 on Tuesday. The company has a market capitalization of $6.42 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The company’s fifty day moving average price is $57.97 and its 200 day moving average price is $55.23. Commercial Metals has a 1 year low of $47.42 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share 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 during the quarter, compared to analyst estimates of $2.07 billion. On average, research analysts predict that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 dividend on an annualized basis and a yield of 1.28%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analysts Set New Price Targets

CMC has been the topic of a number of recent analyst reports. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. 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. UBS Group reiterated a “sell” rating and issued a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.40.

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.