Commercial Metals (NYSE:CMC) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its holdings in Commercial Metals (NYSE:CMCGet Rating) by 69.7% during the third quarter, HoldingsChannel.com reports. The fund owned 86,781 shares of the basic materials company’s stock after buying an additional 35,654 shares during the period. Raymond James & Associates’ holdings in Commercial Metals were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Cutler Group LLC CA increased its holdings in shares of Commercial Metals by 96.1% in the 3rd quarter. Cutler Group LLC CA now owns 2,420 shares of the basic materials company’s stock valued at $85,000 after acquiring an additional 1,186 shares during the period. Ronald Blue Trust Inc. increased its holdings in shares of Commercial Metals by 174.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,959 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 1,245 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $1,139,000. Joule Financial LLC increased its holdings in shares of Commercial Metals by 4.4% in the 3rd quarter. Joule Financial LLC now owns 7,080 shares of the basic materials company’s stock valued at $251,000 after acquiring an additional 301 shares during the period. Finally, Bailard Inc. acquired a new position in Commercial Metals in the 3rd quarter valued at $482,000. 84.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMC has been the topic of several recent research reports. Citigroup boosted their price objective on shares of Commercial Metals from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, October 14th. Bank of America initiated coverage on shares of Commercial Metals in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of Commercial Metals from $49.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 10th. The Goldman Sachs Group boosted their price objective on shares of Commercial Metals from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, January 10th. Finally, KeyCorp upped their price target on shares of Commercial Metals from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals has a consensus rating of “Moderate Buy” and a consensus target price of $49.78.

Commercial Metals Price Performance

Commercial Metals stock opened at $52.15 on Friday. Commercial Metals has a 52 week low of $31.47 and a 52 week high of $56.88. The company has a quick ratio of 1.97, a current ratio of 2.99 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $49.60 and its 200 day simple moving average is $43.37. The firm has a market capitalization of $6.12 billion, a PE ratio of 5.08 and a beta of 1.29.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Thursday, January 19th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. Commercial Metals’s dividend payout ratio is presently 6.24%.

Insider Buying and Selling

In related news, CEO Barbara Smith sold 150,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.11, for a total value of $7,216,500.00. Following the sale, the chief executive officer now directly owns 227,651 shares in the company, valued at approximately $10,952,289.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Commercial Metals news, SVP Ty L. Garrison sold 6,900 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $45.76, for a total value of $315,744.00. Following the transaction, the senior vice president now directly owns 124,508 shares in the company, valued at approximately $5,697,486.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Barbara Smith sold 150,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.11, for a total transaction of $7,216,500.00. Following the completion of the transaction, the chief executive officer now owns 227,651 shares in the company, valued at $10,952,289.61. The disclosure for this sale can be found here. Insiders have sold 162,400 shares of company stock worth $7,804,384 in the last three months. Corporate insiders own 1.20% of the company’s stock.

About Commercial Metals

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

See Also

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMCGet Rating).

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

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