Verity Asset Management Inc. Has $2 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Verity Asset Management Inc. decreased its position in Commercial Metals (NYSE:CMC) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,423 shares of the basic materials company’s stock after selling 368 shares during the period. Commercial Metals makes up 0.8% of Verity Asset Management Inc.’s portfolio, making the stock its 29th largest position. Verity Asset Management Inc.’s holdings in Commercial Metals were worth $2,002,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Boston Partners lifted its holdings in shares of 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 valued at $180,752,000 after purchasing an additional 3,063,241 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $50,132,000. Van ECK Associates Corp increased its holdings in Commercial Metals by 204.3% during the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after buying an additional 282,511 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Commercial Metals by 388.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after purchasing an additional 237,477 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Commercial Metals by 163.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock valued at $11,756,000 after buying an additional 136,367 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $61.08 on Friday. The company has a 50-day simple moving average of $53.33 and a two-hundred day simple moving average of $54.29. Commercial Metals has a twelve month low of $43.52 and a twelve month high of $62.94. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is currently 17.39%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CMC shares. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.25.

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.