Franklin Resources Inc. Acquires 3,396 Shares of Commercial Metals (NYSE:CMC)

Franklin Resources Inc. raised its holdings in Commercial Metals (NYSE:CMC) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,026,351 shares of the basic materials company’s stock after purchasing an additional 3,396 shares during the quarter. Franklin Resources Inc.’s holdings in Commercial Metals were worth $55,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMC. State Street Corp increased its stake in shares of Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after buying an additional 24,665 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after acquiring an additional 28,019 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Commercial Metals by 1.9% during the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock worth $119,646,000 after purchasing an additional 41,206 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after purchasing an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after purchasing an additional 18,262 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $56.28 on Tuesday. The stock has a market cap of $6.42 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. Commercial Metals has a 1 year low of $47.42 and a 1 year high of $64.53. The stock’s 50-day moving average price is $57.97 and its two-hundred day moving average price 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 released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, equities analysts predict that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. UBS Group reaffirmed a “sell” rating and set a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.40.

About Commercial Metals

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.