Royce & Associates LP Lowers Holdings in Commercial Metals (CMC)

Royce & Associates LP trimmed its stake in shares of Commercial Metals (NYSE:CMC) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,472,650 shares of the basic materials company’s stock after selling 178,927 shares during the period. Royce & Associates LP owned about 1.27% of Commercial Metals worth $28,025,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Commercial Metals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,837,096 shares of the basic materials company’s stock valued at $249,424,000 after acquiring an additional 264,915 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Commercial Metals by 13.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after buying an additional 526,185 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Commercial Metals by 0.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock valued at $85,090,000 after purchasing an additional 35,385 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock valued at $57,435,000 after purchasing an additional 1,117,876 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Commercial Metals by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,972,782 shares of the basic materials company’s stock valued at $57,762,000 after purchasing an additional 115,908 shares in the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.

Several research firms have commented on CMC. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Tuesday, October 17th. Jefferies Group raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Macquarie initiated coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 price target for the company. Finally, Citigroup dropped their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.88.

Shares of Commercial Metals (NYSE:CMC) opened at $20.61 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.58. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $23.28. The firm has a market cap of $2,402.60, a price-to-earnings ratio of 27.11 and a beta of 1.26.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, November 7th. Commercial Metals’s payout ratio is 120.00%.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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