Commercial Metals (NYSE:CMC) Shares Bought by Qsemble Capital Management LP

Qsemble Capital Management LP boosted its position in shares of Commercial Metals (NYSE:CMC) by 20.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,973 shares of the basic materials company’s stock after acquiring an additional 1,549 shares during the quarter. Qsemble Capital Management LP’s holdings in Commercial Metals were worth $493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners lifted its position in Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares during the period. Victory Capital Management Inc. lifted its position in Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock worth $119,646,000 after acquiring an additional 41,206 shares during the period. Principal Financial Group Inc. lifted its position in Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 period. Finally, Thompson Siegel & Walmsley LLC lifted its position in Commercial Metals by 58.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock worth $79,172,000 after acquiring an additional 528,876 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC stock opened at $61.36 on Thursday. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52-week low of $44.11 and a 52-week high of $63.40. The business has a 50-day simple moving average of $55.95 and a 200-day simple moving average of $54.78. The stock has a market cap of $6.99 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14.

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 the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. On average, equities analysts expect that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. Commercial Metals’s dividend payout ratio is presently 17.39%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.