Commercial Metals Company $CMC Shares Sold by State of Wyoming

State of Wyoming trimmed its holdings in Commercial Metals Company (NYSE:CMC) by 42.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 13,641 shares of the basic materials company’s stock after selling 9,918 shares during the period. State of Wyoming’s holdings in Commercial Metals were worth $838,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its stake in shares of Commercial Metals by 110.7% during the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after buying an additional 301 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Commercial Metals in the fourth quarter worth about $54,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Commercial Metals by 617.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after buying an additional 716 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Commercial Metals during the fourth quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Commercial Metals by 84.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 708 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $67.96 on Friday. The firm has a market cap of $7.52 billion, a PE ratio of 12.80, a P/E/G ratio of 0.39 and a beta of 1.54. Commercial Metals Company has a twelve month low of $49.66 and a twelve month high of $84.87. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $70.18 and a 200 day moving average price of $70.51.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. Commercial Metals’s revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts predict that Commercial Metals Company will post 6.63 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s dividend payout ratio is presently 15.07%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMC shares. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Barclays assumed coverage on shares of Commercial Metals in a research note on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price objective on the stock. Bank of America cut their target price on shares of Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a report on Friday, May 22nd. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.45.

Insider Activity

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the transaction, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at approximately $11,127,298.60. This represents a 4.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

About Commercial Metals

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.