ING Groep NV purchased a new position in shares of Commercial Metals Company (NYSE:CMC) during the second quarter, Holdings Channel reports. The institutional investor purchased 14,085 shares of the basic materials company’s stock, valued at approximately $274,000.

Several other large investors have also added to or reduced their stakes in CMC. Capstone Asset Management Co. increased its stake in Commercial Metals by 0.5% in the second quarter. Capstone Asset Management Co. now owns 14,112 shares of the basic materials company’s stock worth $274,000 after buying an additional 70 shares during the last quarter. First Midwest Bank Trust Division increased its stake in Commercial Metals by 2.0% in the second quarter. First Midwest Bank Trust Division now owns 20,152 shares of the basic materials company’s stock worth $392,000 after buying an additional 401 shares during the last quarter. Advantus Capital Management Inc increased its stake in Commercial Metals by 3.0% in the first quarter. Advantus Capital Management Inc now owns 14,796 shares of the basic materials company’s stock worth $283,000 after buying an additional 436 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Commercial Metals by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 29,200 shares of the basic materials company’s stock worth $559,000 after buying an additional 600 shares during the last quarter. Finally, Elkfork Partners LLC increased its stake in Commercial Metals by 13.6% in the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock worth $105,000 after buying an additional 660 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.

Shares of Commercial Metals Company (NYSE CMC) traded down 0.97% on Friday, reaching $18.47. 433,035 shares of the company were exchanged. The stock has a market capitalization of $2.14 billion, a PE ratio of 28.55 and a beta of 1.22. Commercial Metals Company has a 12-month low of $14.58 and a 12-month high of $24.64. The firm has a 50 day moving average price of $19.35 and a 200-day moving average price of $19.34.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Commercial Metals Company will post $0.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th were given a $0.12 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.57%. Commercial Metals’s dividend payout ratio is 73.85%.

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A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price objective on shares of Commercial Metals in a research note on Wednesday, June 28th. Bank of America Corporation reissued a “neutral” rating and issued a $20.00 price objective (up from $19.00) on shares of Commercial Metals in a research note on Sunday, June 25th. Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Citigroup Inc. raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.00.

About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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