Commercial Metals (NYSE:CMC) Shares Purchased by Innealta Capital LLC

Innealta Capital LLC boosted its holdings in shares of Commercial Metals (NYSE:CMC) by 12.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,997 shares of the basic materials company’s stock after buying an additional 458 shares during the quarter. Innealta Capital LLC’s holdings in Commercial Metals were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Commercial Metals during the third quarter valued at about $66,000. Archer Investment Corp acquired a new stake in shares of Commercial Metals during the second quarter worth $77,000. GAMMA Investing LLC lifted its stake in shares of Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after buying an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Commercial Metals during the second quarter valued at $129,000. Finally, BOKF NA increased its position in shares of Commercial Metals by 45.7% in the 1st quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 1,051 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Shares of CMC stock opened at $54.43 on Monday. Commercial Metals has a 52-week low of $43.52 and a 52-week high of $61.26. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.20 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. The business has a 50-day simple moving average of $52.95 and a 200-day simple moving average of $54.20.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.32%. Commercial Metals’s dividend payout ratio is presently 17.39%.

Analyst Upgrades and Downgrades

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