Franklin Resources Inc. Has $55.43 Million Holdings in Commercial Metals (NYSE:CMC)

Franklin Resources Inc. increased its stake in shares of Commercial Metals (NYSE:CMC) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,026,351 shares of the basic materials company’s stock after acquiring an additional 3,396 shares during the period. Franklin Resources Inc. owned 0.90% of Commercial Metals worth $55,433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Commercial Metals in the second quarter valued at about $50,132,000. Jacobs Levy Equity Management Inc. boosted its stake in Commercial Metals by 122.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after purchasing an additional 686,519 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Commercial Metals in the 3rd quarter valued at approximately $16,731,000. Van ECK Associates Corp increased its position in Commercial Metals by 204.3% in the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after buying an additional 282,511 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Commercial Metals by 163.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock worth $11,756,000 after buying an additional 136,367 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of research reports. UBS Group reaffirmed a “sell” rating and set a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Jefferies Financial Group initiated coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. Finally, BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.40.

Commercial Metals Stock Down 1.6 %

NYSE CMC opened at $56.28 on Tuesday. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.74 and a beta of 1.15. The stock’s 50 day moving average is $57.97 and its two-hundred day moving average is $55.23. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Equities analysts forecast that Commercial Metals will post 4.26 earnings per share 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. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s payout ratio is 17.39%.

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.