Foresight Group Ltd Liability Partnership Sells 1,414 Shares of Commercial Metals (NYSE:CMC)

Foresight Group Ltd Liability Partnership reduced its holdings in Commercial Metals (NYSE:CMC) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,713 shares of the basic materials company’s stock after selling 1,414 shares during the quarter. Foresight Group Ltd Liability Partnership’s holdings in Commercial Metals were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners lifted its stake in shares of Commercial Metals by 23,390.7% in 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 during the period. Bank of New York Mellon Corp lifted its stake in shares of Commercial Metals by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock valued at $71,283,000 after purchasing an additional 18,205 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Commercial Metals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock valued at $68,160,000 after purchasing an additional 25,816 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of Commercial Metals in the 2nd quarter valued at approximately $50,132,000. Finally, American Century Companies Inc. lifted its stake in shares of Commercial Metals by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 847,116 shares of the basic materials company’s stock valued at $46,583,000 after purchasing an additional 12,772 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 2.9 %

Shares of NYSE:CMC opened at $53.48 on Wednesday. The stock has a fifty day simple moving average of $53.02 and a two-hundred day simple moving average of $54.36. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 11.14 and a beta of 1.14. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 1.35%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 15.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMC. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research note on Friday. Bank of America lowered their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.25.

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.