8,770 Shares in Commercial Metals (NYSE:CMC) Purchased by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC acquired a new position in shares of Commercial Metals (NYSE:CMC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,770 shares of the basic materials company’s stock, valued at approximately $461,000.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Commercial Metals during the first quarter worth about $28,000. nVerses Capital LLC purchased a new stake in Commercial Metals during the third quarter worth about $66,000. Archer Investment Corp purchased a new stake in Commercial Metals during the second quarter worth about $77,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 282 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Commercial Metals during the second quarter worth about $129,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

CMC stock opened at $56.10 on Friday. The firm has a 50 day moving average of $52.97 and a 200-day moving average of $54.46. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The firm has a market capitalization of $6.45 billion, a P/E ratio of 11.69 and a beta of 1.14.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. Commercial Metals’s dividend payout ratio (DPR) is currently 15.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Bank of America cut their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.25.

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.