Vontobel Holding Ltd. Has $286,000 Stock Position in Commercial Metals (NYSE:CMC)

Vontobel Holding Ltd. cut its stake in shares of Commercial Metals (NYSE:CMC) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,211 shares of the basic materials company’s stock after selling 454 shares during the quarter. Vontobel Holding Ltd.’s holdings in Commercial Metals were worth $286,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Archer Investment Corp purchased a new stake in shares of Commercial Metals in the second quarter worth approximately $77,000. GAMMA Investing LLC raised its position in Commercial Metals by 21.9% in 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 period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals in the second quarter valued at about $129,000. Innealta Capital LLC purchased a new stake in shares of Commercial Metals during the 2nd quarter worth approximately $195,000. Finally, BOKF NA raised its holdings 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 worth $197,000 after purchasing an additional 1,051 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Down 2.9 %

Shares of CMC stock opened at $53.48 on Wednesday. The company has a market capitalization of $6.15 billion, a PE ratio of 11.14 and a beta of 1.14. Commercial Metals has a 52-week low of $39.85 and a 52-week high of $61.26. The business’s fifty day moving average is $53.02 and its 200 day moving average is $54.39. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s payout ratio is 15.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America cut their price target 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. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a report on Friday. Finally, Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals presently has an average rating of “Moderate Buy” and an average target price of $65.25.

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.