BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 24,606 Shares of Commercial Metals (NYSE:CMC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Commercial Metals (NYSE:CMC) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,376 shares of the basic materials company’s stock after acquiring an additional 24,606 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.21% of Commercial Metals worth $13,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners lifted its stake in Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after buying an additional 3,063,241 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals during the 2nd quarter valued at $50,132,000. Van ECK Associates Corp boosted its stake in Commercial Metals by 204.3% during the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after acquiring an additional 282,511 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after purchasing an additional 237,477 shares during the period. Finally, AQR Capital Management LLC increased its stake in Commercial Metals by 17.5% in the second quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company’s stock valued at $42,203,000 after purchasing an additional 115,326 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. 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 price objective on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group started coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.25.

Commercial Metals Price Performance

CMC stock opened at $61.22 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The business has a 50-day simple moving average of $55.52 and a two-hundred day simple moving average of $54.73. The company has a market capitalization of $6.97 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. Commercial Metals has a 52-week low of $43.52 and a 52-week high of $63.40.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Research analysts expect that Commercial Metals will post 4.35 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.18%. Commercial Metals’s dividend payout ratio is currently 17.39%.

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.