Centaurus Financial Inc. Buys 1,359 Shares of Commercial Metals (NYSE:CMC)

Centaurus Financial Inc. lifted its stake in shares of Commercial Metals (NYSE:CMC – Get Rating) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,109 shares of the basic materials company’s stock after purchasing an additional 1,359 shares during the quarter. Centaurus Financial Inc.’s holdings in Commercial Metals were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CMC. Vanguard Group Inc. increased its position in shares of Commercial Metals by 1.1% during the first quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock valued at $550,481,000 after buying an additional 142,062 shares during the period. FMR LLC increased its holdings in Commercial Metals by 5.1% during the 2nd quarter. FMR LLC now owns 10,124,695 shares of the basic materials company’s stock worth $335,128,000 after acquiring an additional 493,455 shares during the period. Dimensional Fund Advisors LP lifted its stake in Commercial Metals by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,645,358 shares of the basic materials company’s stock worth $271,260,000 after purchasing an additional 140,355 shares in the last quarter. State Street Corp grew its position in shares of Commercial Metals by 22.3% during the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock valued at $312,971,000 after purchasing an additional 1,367,997 shares in the last quarter. Finally, Berkley W R Corp increased its holdings in shares of Commercial Metals by 14.4% in the second quarter. Berkley W R Corp now owns 2,869,104 shares of the basic materials company’s stock worth $94,967,000 after purchasing an additional 361,600 shares during the period. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Insider Activity

In related news, CEO Barbara Smith sold 150,000 shares of Commercial Metals stock in a transaction on 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 owns 227,651 shares in the company, valued at $10,952,289.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BMO Capital Markets upped their target price on Commercial Metals from $49.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 10th. The Goldman Sachs Group raised their price objective on shares of Commercial Metals from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, January 10th. StockNews.com initiated coverage on shares of Commercial Metals in a research report on Thursday. They issued a “hold” rating for the company. Citigroup upped their price objective on Commercial Metals from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Finally, Bank of America began coverage on Commercial Metals in a research report on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 target price for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $52.86.

Commercial Metals Stock Performance

Shares of CMC stock opened at $44.05 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.99. Commercial Metals has a fifty-two week low of $31.47 and a fifty-two week high of $58.09. The company has a market capitalization of $5.17 billion, a P/E ratio of 4.29 and a beta of 1.31. The stock has a 50 day moving average price of $53.25 and a two-hundred day moving average price of $47.33.

Commercial Metals (NYSE:CMC – Get Rating) last released its quarterly earnings data on Monday, January 9th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.25. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Commercial Metals had a net margin of 13.61% and a return on equity of 33.19%. Analysts expect that Commercial Metals will post 7.64 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 2nd. Stockholders of record on Thursday, January 19th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, January 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.45%. Commercial Metals’s dividend payout ratio is currently 6.24%.

Commercial Metals Profile

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Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.