JPMorgan Chase & Co. Has $59.42 Million Stake in Commercial Metals (NYSE:CMC)

JPMorgan Chase & Co. boosted its stake in shares of Commercial Metals (NYSE:CMC) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,081,153 shares of the basic materials company’s stock after acquiring an additional 66,092 shares during the quarter. JPMorgan Chase & Co. owned 0.95% of Commercial Metals worth $59,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMC. Principal Financial Group Inc. boosted its stake in Commercial Metals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Vestcor Inc raised its holdings in shares of Commercial Metals by 108.0% in the third quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock valued at $995,000 after buying an additional 9,400 shares during the last quarter. Seizert Capital Partners LLC lifted its position in Commercial Metals by 32.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 18,600 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after acquiring an additional 18,262 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Commercial Metals by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock valued at $2,000,000 after acquiring an additional 17,010 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. BMO Capital Markets dropped their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday. UBS Group reiterated a “sell” rating and issued a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.67.

Commercial Metals Trading Down 0.5 %

NYSE:CMC opened at $48.89 on Friday. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19. The business’s 50-day moving average price is $57.06 and its two-hundred day moving average price is $55.00.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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 net margin of 6.13% and a return on equity of 12.20%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, equities analysts expect that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 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.