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

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Commercial Metals (NYSE:CMC) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,376 shares of the basic materials company’s stock after purchasing an additional 24,606 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Commercial Metals were worth $13,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

CMC has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Price Performance

Shares of NYSE CMC 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. Commercial Metals has a fifty-two week low of $43.52 and a fifty-two week high of $63.40. The stock has a market cap of $6.97 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. The stock has a fifty day moving average of $55.52 and a 200-day moving average of $54.73.

Commercial Metals (NYSE:CMC) last announced 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). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Equities research analysts anticipate that Commercial Metals will post 4.35 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s payout ratio is 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.