8,735 Shares in Commercial Metals Company $CMC Bought by Vestcor Inc

Vestcor Inc bought a new position in Commercial Metals Company (NYSE:CMC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,735 shares of the basic materials company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMC. Artemis Investment Management LLP bought a new position in shares of Commercial Metals during the fourth quarter valued at $103,962,000. Norges Bank bought a new position in shares of Commercial Metals during the fourth quarter valued at $97,983,000. Merewether Investment Management LP bought a new position in shares of Commercial Metals during the third quarter valued at $26,847,000. UBS Group AG lifted its holdings in shares of Commercial Metals by 41.8% during the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock valued at $87,130,000 after acquiring an additional 448,083 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Commercial Metals by 44.2% during the third quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company’s stock valued at $58,054,000 after acquiring an additional 310,431 shares during the period. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen cut Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday. Barclays assumed coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price objective for the company. Morgan Stanley lifted their price objective on Commercial Metals from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.10.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $73.63 on Tuesday. Commercial Metals Company has a twelve month low of $47.06 and a twelve month high of $84.87. The firm has a market cap of $8.17 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. The business has a fifty day moving average of $68.95 and a 200-day moving average of $70.20.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business posted $0.26 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Commercial Metals Company will post 6.45 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 6th. Commercial Metals’s dividend payout ratio is 16.04%.

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.