Vanguard Personalized Indexing Management LLC Has $723,000 Stock Holdings in Commercial Metals Company $CMC

Vanguard Personalized Indexing Management LLC raised its stake in Commercial Metals Company (NYSE:CMC) by 35.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,782 shares of the basic materials company’s stock after acquiring an additional 3,867 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Commercial Metals were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMC. Nuveen LLC bought a new position in Commercial Metals in the first quarter valued at about $44,345,000. Pacer Advisors Inc. grew its holdings in shares of Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock worth $34,944,000 after buying an additional 742,503 shares in the last quarter. American Century Companies Inc. grew its position in Commercial Metals by 86.1% in the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after purchasing an additional 734,265 shares in the last quarter. Victory Capital Management Inc. grew its stake in Commercial Metals by 27.5% in the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock valued at $142,139,000 after purchasing an additional 666,886 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Commercial Metals by 14.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock worth $191,461,000 after purchasing an additional 539,309 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Zacks Research upgraded shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. UBS Group boosted their price objective on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 13th. Finally, Bank of America upped their target price on Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 15th. One equities 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 company. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.85.

Commercial Metals Trading Up 2.0%

Shares of CMC stock opened at $58.53 on Tuesday. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The stock’s fifty day moving average price is $57.97 and its two-hundred day moving average price is $51.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The company has a market cap of $6.50 billion, a PE ratio of 77.02, a P/E/G ratio of 1.93 and a beta of 1.32.

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

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is presently 94.74%.

About Commercial Metals

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.