Commercial Metals (NYSE:CMC) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in Commercial Metals (NYSE:CMC) by 122.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,245,535 shares of the basic materials company’s stock after buying an additional 686,519 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Commercial Metals were worth $68,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMC. HighTower Advisors LLC boosted its stake in shares of Commercial Metals by 82.6% during the 3rd quarter. HighTower Advisors LLC now owns 15,928 shares of the basic materials company’s stock worth $874,000 after acquiring an additional 7,207 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Commercial Metals by 264.5% in the 3rd quarter. Edgestream Partners L.P. now owns 129,838 shares of the basic materials company’s stock valued at $7,136,000 after purchasing an additional 94,221 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Commercial Metals during the 3rd quarter worth approximately $16,731,000. Verition Fund Management LLC acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $374,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Commercial Metals during the 3rd quarter worth $4,345,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Commercial Metals stock opened at $63.32 on Tuesday. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.22 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The firm has a 50-day moving average price of $56.45 and a 200-day moving average price of $54.86. Commercial Metals has a 12-month low of $44.93 and a 12-month high of $63.75.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. As a group, equities research analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.14%. Commercial Metals’s payout ratio is 17.39%.

Analyst Ratings Changes

CMC has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday. They set a “buy” rating and a $75.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.20.

Commercial Metals Company 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.