Stevens Capital Management LP Buys New Stake in Commercial Metals (CMC)

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Stevens Capital Management LP bought a new position in Commercial Metals (NYSE:CMC) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 39,153 shares of the basic materials company’s stock, valued at approximately $803,000.

Other large investors have also modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Commercial Metals during the 3rd quarter valued at about $1,753,000. Verity Asset Management Inc. boosted its stake in shares of Commercial Metals by 7.6% during the 3rd quarter. Verity Asset Management Inc. now owns 40,630 shares of the basic materials company’s stock valued at $834,000 after purchasing an additional 2,862 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Commercial Metals by 25.7% during the 3rd quarter. Credit Suisse AG now owns 149,969 shares of the basic materials company’s stock valued at $3,078,000 after purchasing an additional 30,672 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Commercial Metals by 33.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 262,000 shares of the basic materials company’s stock valued at $5,376,000 after purchasing an additional 65,300 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Commercial Metals by 3.5% during the 3rd quarter. FMR LLC now owns 3,382,448 shares of the basic materials company’s stock valued at $69,408,000 after purchasing an additional 113,404 shares in the last quarter. Institutional investors own 87.03% of the company’s stock.

NYSE:CMC opened at $18.17 on Friday. Commercial Metals has a one year low of $17.26 and a one year high of $26.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.75 and a current ratio of 3.83. The stock has a market cap of $2.17 billion, a P/E ratio of 12.19 and a beta of 1.25.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Research analysts anticipate that Commercial Metals will post 2.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, November 6th. Commercial Metals’s payout ratio is currently 32.21%.

A number of equities research analysts have recently weighed in on CMC shares. Longbow Research set a $25.00 target price on shares of Commercial Metals and gave the company a “buy” rating in a research note on Monday, December 3rd. Deutsche Bank lowered shares of Commercial Metals to a “buy” rating in a research note on Tuesday, October 2nd. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a “hold” rating in a research note on Friday, October 26th. Citigroup boosted their price objective on shares of Commercial Metals from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, November 6th. Finally, ValuEngine raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.88.

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About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

See Also: Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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