1,200 Shares in Commercial Metals (NYSE:CMC) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new stake in Commercial Metals (NYSE:CMC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,200 shares of the basic materials company’s stock, valued at approximately $66,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Commercial Metals by 4.4% during the fourth quarter. Wellington Management Group LLP now owns 310,681 shares of the basic materials company’s stock worth $15,546,000 after buying an additional 13,073 shares during the period. Vanguard Group Inc. grew its stake in Commercial Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock worth $632,577,000 after purchasing an additional 191,345 shares during the period. AlphaMark Advisors LLC increased its holdings in Commercial Metals by 19.6% in the first quarter. AlphaMark Advisors LLC now owns 6,084 shares of the basic materials company’s stock worth $358,000 after purchasing an additional 997 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Commercial Metals by 1,701.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company’s stock valued at $13,387,000 after buying an additional 215,131 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of Commercial Metals by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 28,537 shares of the basic materials company’s stock worth $1,677,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMC shares. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued 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 report on Wednesday, October 9th. Bank of America reduced their target price on 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, BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Stock Down 1.8 %

Shares of NYSE CMC opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The company has a 50-day moving average price of $52.97 and a 200-day moving average price of $54.41. The stock has a market capitalization of $6.34 billion, a P/E ratio of 11.48 and a beta of 1.14. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $61.26.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 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.