Commercial Metals Company $CMC Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Commercial Metals Company (NYSE:CMC) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,939,563 shares of the basic materials company’s stock after acquiring an additional 3,466 shares during the quarter. Geode Capital Management LLC owned 2.63% of Commercial Metals worth $143,790,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in Commercial Metals during the first quarter worth $44,345,000. Pacer Advisors Inc. increased its stake in Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock valued at $34,944,000 after purchasing an additional 742,503 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Commercial Metals by 86.1% during the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock worth $73,030,000 after purchasing an additional 734,265 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Commercial Metals by 14.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock worth $191,461,000 after buying an additional 539,309 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Commercial Metals by 124.3% in the 1st quarter. Millennium Management LLC now owns 926,718 shares of the basic materials company’s stock valued at $42,638,000 after buying an additional 513,630 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $57.78 on Wednesday. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a market cap of $6.41 billion, a PE ratio of 76.02, a P/E/G ratio of 1.94 and a beta of 1.34. The stock has a 50 day simple moving average of $58.78 and a 200-day simple moving average of $54.15. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio is presently 94.74%.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of recent research reports. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their target price on Commercial Metals from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $65.00 in a research report on Friday, October 17th. Zacks Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group raised their target price on Commercial Metals from $69.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.20.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson bought 1,722 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the transaction, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This represents a 34.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.