Kapitalo Investimentos Ltda Has $420,000 Position in Commercial Metals (NYSE:CMC)

Kapitalo Investimentos Ltda cut its holdings in shares of Commercial Metals (NYSE:CMC) by 26.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,648 shares of the basic materials company’s stock after selling 2,715 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Commercial Metals were worth $420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rise Advisors LLC purchased a new stake in shares of Commercial Metals in the first quarter worth approximately $28,000. Archer Investment Corp purchased a new stake in Commercial Metals in the 2nd quarter worth approximately $77,000. GAMMA Investing LLC boosted 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 valued at $86,000 after buying an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Commercial Metals during the 2nd quarter valued at $129,000. Finally, Innealta Capital LLC acquired a new position in shares of Commercial Metals in the second quarter worth $195,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $53.08 on Wednesday. The business’s 50-day simple moving average is $52.83 and its 200-day simple moving average is $54.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $61.26. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 11.06 and a beta of 1.14.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.36%. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America lowered their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.40.

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.