Sanctuary Advisors LLC Takes $452,000 Position in Commercial Metals (NYSE:CMC)

Sanctuary Advisors LLC purchased a new stake in shares of Commercial Metals (NYSE:CMC) in the second quarter, according to its most recent filing with the SEC. The firm purchased 8,454 shares of the basic materials company’s stock, valued at approximately $452,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMC. Rise Advisors LLC acquired a new stake in shares of Commercial Metals during the 1st quarter valued at approximately $28,000. Archer Investment Corp acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC raised its position in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 282 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $129,000. Finally, Innealta Capital LLC acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $195,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMC. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group began coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Bank of America lowered their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus price target of $64.75.

Commercial Metals Stock Up 1.1 %

CMC stock opened at $53.67 on Thursday. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The company has a 50 day moving average price of $52.85 and a two-hundred day moving average price of $54.47. The stock has a market capitalization of $6.17 billion, a P/E ratio of 11.18 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid 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 dividend yield of 1.34%. Commercial Metals’s dividend payout ratio is presently 15.00%.

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.