US Bancorp DE Has $725,000 Stake in Commercial Metals Company $CMC

US Bancorp DE boosted its position in shares of Commercial Metals Company (NYSE:CMC) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,815 shares of the basic materials company’s stock after acquiring an additional 3,621 shares during the period. US Bancorp DE’s holdings in Commercial Metals were worth $725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Signaturefd LLC lifted its position in Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 302 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Commercial Metals during the 1st quarter worth $47,000. UMB Bank n.a. lifted its position in Commercial Metals by 77.8% during the 2nd quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 610 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Commercial Metals by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC opened at $57.39 on Friday. The stock has a market cap of $6.42 billion, a P/E ratio of 75.51, a PEG ratio of 1.93 and a beta of 1.32. The company’s 50-day simple moving average is $57.86 and its 200 day simple moving average is $51.43. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 30th. Commercial Metals’s dividend payout ratio is currently 94.74%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Commercial Metals from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Finally, Citigroup upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $65.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

Commercial Metals 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.