Harbour Capital Advisors LLC Buys Shares of 8,770 Commercial Metals (NYSE:CMC)

by · The Markets Daily

Harbour Capital Advisors LLC bought a new stake in shares of Commercial Metals (NYSE:CMC – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,770 shares of the basic materials company’s stock, valued at approximately $461,000.

Several other hedge funds have also bought and sold shares of the stock. First Dallas Securities Inc. lifted its position in Commercial Metals by 0.8% during the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 185 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Commercial Metals by 0.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after purchasing an additional 187 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Commercial Metals by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock worth $749,000 after acquiring an additional 276 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Commercial Metals by 4.6% during the second quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 284 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Down 0.5 %

Shares of NYSE CMC opened at $56.10 on Friday. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $61.26. The firm’s fifty day moving average is $52.97 and its 200 day moving average is $54.46. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 11.69 and a beta of 1.14.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, October 31st. Commercial Metals’s payout ratio is 15.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday. Bank of America decreased their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.25.

Get Our Latest Stock Analysis on CMC

Commercial Metals Profile

(Free Report)

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.

See Also

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