Caisse DE Depot ET Placement DU Quebec Purchases Shares of 304,429 Commercial Metals (NYSE:CMC)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Commercial Metals (NYSE:CMC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 304,429 shares of the basic materials company’s stock, valued at approximately $16,731,000.

Several other institutional investors and hedge funds have also modified their holdings of CMC. nVerses Capital LLC purchased a new position in shares of Commercial Metals during the third quarter valued at approximately $66,000. Archer Investment Corp acquired a new stake in Commercial Metals during the 2nd quarter valued at $77,000. GAMMA Investing LLC grew its holdings in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Commercial Metals during the 2nd quarter valued at $129,000. Finally, KBC Group NV grew its holdings in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC stock opened at $61.69 on Monday. The firm has a market cap of $7.03 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 1-year low of $44.78 and a 1-year high of $63.40. The firm has a fifty day moving average of $56.45 and a two-hundred day moving average of $54.89.

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

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given 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 1.17%. Commercial Metals’s payout ratio is currently 17.39%.

Analysts Set New Price Targets

CMC has been the subject of a number of recent analyst reports. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Finally, BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Commercial Metals has an average rating of “Moderate Buy” and a consensus 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.