Commercial Metals Company $CMC Shares Bought by Strs Ohio

Strs Ohio increased its holdings in Commercial Metals Company (NYSE:CMC) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,100 shares of the basic materials company’s stock after buying an additional 18,900 shares during the quarter. Strs Ohio’s holdings in Commercial Metals were worth $10,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in Commercial Metals by 2.6% in the 3rd quarter. State Street Corp now owns 6,270,373 shares of the basic materials company’s stock worth $359,167,000 after buying an additional 161,195 shares during the period. Boston Partners increased its holdings in Commercial Metals by 1.9% in the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock worth $208,629,000 after buying an additional 67,139 shares during the period. American Century Companies Inc. increased its holdings in Commercial Metals by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after buying an additional 112,267 shares during the period. Invesco Ltd. increased its holdings in Commercial Metals by 4.8% in the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock worth $95,144,000 after buying an additional 76,365 shares during the period. Finally, UBS Group AG grew its stake in shares of Commercial Metals by 41.8% during the 3rd quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock worth $87,130,000 after purchasing an additional 448,083 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Commercial Metals stock opened at $66.94 on Tuesday. The company’s fifty day moving average price is $66.05 and its 200 day moving average price is $67.81. Commercial Metals Company has a 1 year low of $44.67 and a 1 year high of $84.87. The stock has a market capitalization of $7.42 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.39 and a beta of 1.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. Commercial Metals’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. As a group, equities research analysts anticipate that Commercial Metals Company will post 6.54 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a dividend of $0.20 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio is presently 16.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CMC. Wall Street Zen cut shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Zacks Research cut shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price objective on the stock. KeyCorp began coverage on shares of Commercial Metals in a research note on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.