Baird Financial Group Inc. Acquires New Position in Commercial Metals (NYSE:CMC)

Baird Financial Group Inc. purchased a new stake in Commercial Metals (NYSE:CMCGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,818 shares of the basic materials company’s stock, valued at approximately $425,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CMC. Texas Permanent School Fund raised its stake in shares of Commercial Metals by 2.0% during the second quarter. Texas Permanent School Fund now owns 87,815 shares of the basic materials company’s stock worth $2,907,000 after acquiring an additional 1,691 shares in the last quarter. Jackson Creek Investment Advisors LLC lifted its stake in Commercial Metals by 3.1% in the second quarter. Jackson Creek Investment Advisors LLC now owns 32,907 shares of the basic materials company’s stock worth $1,304,000 after purchasing an additional 1,002 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Commercial Metals by 81.4% in the second quarter. Envestnet Asset Management Inc. now owns 230,568 shares of the basic materials company’s stock valued at $7,632,000 after purchasing an additional 103,438 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Commercial Metals by 9.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 26,995 shares of the basic materials company’s stock worth $894,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Commercial Metals by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 32,095 shares of the basic materials company’s stock worth $1,062,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling at Commercial Metals

In other news, SVP Ty L. Garrison sold 696 shares of the company’s stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $43.75, for a total value of $30,450.00. Following the completion of the sale, the senior vice president now owns 133,939 shares of the company’s stock, valued at approximately $5,859,831.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commercial Metals news, SVP Ty L. Garrison sold 696 shares of the firm’s stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $43.75, for a total value of $30,450.00. Following the completion of the sale, the senior vice president now directly owns 133,939 shares in the company, valued at $5,859,831.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ty L. Garrison sold 14,304 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $43.83, for a total value of $626,944.32. Following the transaction, the senior vice president now directly owns 134,635 shares in the company, valued at $5,901,052.05. The disclosure for this sale can be found here. Insiders have sold 21,900 shares of company stock valued at $973,138 in the last quarter. 1.20% of the stock is owned by insiders.

Commercial Metals Trading Down 0.1 %

Shares of Commercial Metals stock opened at $47.42 on Tuesday. The company’s fifty day simple moving average is $41.88 and its 200-day simple moving average is $39.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.54 and a quick ratio of 1.67. The stock has a market capitalization of $5.56 billion, a PE ratio of 4.76 and a beta of 1.31. Commercial Metals has a 1-year low of $30.59 and a 1-year high of $49.41.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, October 26th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. Commercial Metals’s payout ratio is currently 6.43%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of Commercial Metals from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, October 14th. BMO Capital Markets boosted their target price on Commercial Metals from $37.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, October 14th. The Goldman Sachs Group reduced their price target on shares of Commercial Metals from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, October 6th. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, KeyCorp lifted their target price on shares of Commercial Metals from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, October 17th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals has an average rating of “Hold” and a consensus target price of $44.13.

About Commercial Metals

(Get Rating)

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.

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

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