Qsemble Capital Management LP Boosts Stock Holdings in Commercial Metals (NYSE:CMC)

Qsemble Capital Management LP boosted its position in shares of Commercial Metals (NYSE:CMC) by 20.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,973 shares of the basic materials company’s stock after buying an additional 1,549 shares during the period. Qsemble Capital Management LP’s holdings in Commercial Metals were worth $493,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Seizert Capital Partners LLC increased its stake in Commercial Metals by 32.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 18,600 shares in the last quarter. Boston Partners boosted 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 worth $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Commercial Metals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock worth $37,075,000 after purchasing an additional 67,068 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Commercial Metals by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 17,010 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Commercial Metals by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock worth $16,618,000 after purchasing an additional 48,453 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 1.3 %

CMC opened at $61.36 on Thursday. Commercial Metals has a one year low of $44.11 and a one year high of $63.40. The stock has a market capitalization of $6.99 billion, a PE ratio of 14.82, a P/E/G ratio of 2.74 and a beta of 1.14. The business’s 50 day moving average price is $55.95 and its 200 day moving average price is $54.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

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

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is 17.39%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CMC. Jefferies Financial Group began coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. 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. Finally, Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.25.

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.