Atria Investments Inc Takes $290,000 Position in Commercial Metals (NYSE:CMC)

Atria Investments Inc bought a new position in Commercial Metals (NYSE:CMC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,278 shares of the basic materials company’s stock, valued at approximately $290,000.

A number of other institutional investors have also recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Commercial Metals during the 3rd quarter valued at $66,000. Archer Investment Corp purchased a new stake in Commercial Metals during the second quarter valued at about $77,000. GAMMA Investing LLC increased its stake in Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Commercial Metals in the 2nd quarter worth about $129,000. Finally, BOKF NA lifted its stake in shares of Commercial Metals by 45.7% in the 1st quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 1,051 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMC has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Stock Up 1.3 %

NYSE CMC opened at $61.22 on Friday. 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 has a fifty-two week low of $43.52 and a fifty-two week high of $63.40. The business has a 50 day moving average price of $55.52 and a two-hundred day moving average price of $54.74. The stock has a market cap of $6.97 billion, a PE ratio of 14.79, a P/E/G ratio of 2.56 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last posted 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 return on equity of 12.20% and a net margin of 6.13%. As a group, sell-side analysts predict that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Commercial Metals’s payout ratio is currently 17.39%.

About Commercial Metals

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.