Semanteon Capital Management LP Makes New $1.21 Million Investment in Commercial Metals (NYSE:CMC)

Semanteon Capital Management LP purchased a new stake in shares of Commercial Metals (NYSE:CMC) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 21,933 shares of the basic materials company’s stock, valued at approximately $1,205,000. Commercial Metals accounts for approximately 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 16th largest position.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC bought a new stake in Commercial Metals in the third quarter worth $66,000. Archer Investment Corp purchased a new stake in Commercial Metals during the 2nd quarter valued at about $77,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals in the second quarter worth about $129,000. Finally, BOKF NA lifted its stake in shares of Commercial Metals by 45.7% in the first quarter. BOKF NA now owns 3,353 shares of the basic materials company’s stock worth $197,000 after buying an additional 1,051 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC traded up $0.97 during trading hours on Monday, hitting $52.94. 14,708 shares of the company’s stock traded hands, compared to its average volume of 856,661. Commercial Metals has a 52 week low of $41.86 and a 52 week high of $61.26. The firm has a market capitalization of $6.09 billion, a P/E ratio of 10.83 and a beta of 1.14. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $52.89 and its two-hundred day moving average price is $54.24.

Commercial Metals Dividend Announcement

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 given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals’s payout ratio is 15.00%.

Analysts Set New Price Targets

A number of research firms have commented on CMC. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. 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. Finally, Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Commercial Metals presently has a consensus 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.