Retirement Systems of Alabama decreased its position in Commercial Metals (NYSE:CMC – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,034 shares of the basic materials company’s stock after selling 1,627 shares during the period. Retirement Systems of Alabama owned about 0.13% of Commercial Metals worth $7,483,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in CMC. New York State Teachers Retirement System raised its holdings in shares of Commercial Metals by 4.6% in the 4th quarter. New York State Teachers Retirement System now owns 164,584 shares of the basic materials company’s stock worth $7,949,000 after buying an additional 7,225 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Commercial Metals by 82.1% in the 1st quarter. IFP Advisors Inc now owns 60,061 shares of the basic materials company’s stock worth $1,448,000 after buying an additional 27,074 shares in the last quarter. UBS Group AG grew its position in Commercial Metals by 91.7% during the 4th quarter. UBS Group AG now owns 64,343 shares of the basic materials company’s stock worth $3,108,000 after acquiring an additional 30,777 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Commercial Metals during the 4th quarter worth approximately $1,339,000. Finally, Capital CS Group LLC bought a new stake in Commercial Metals during the 4th quarter worth approximately $315,000. Institutional investors and hedge funds own 82.96% of the company’s stock.
Insider Buying and Selling
In related news, CEO Barbara Smith sold 1,700 shares of Commercial Metals stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $56.45, for a total transaction of $95,965.00. Following the completion of the sale, the chief executive officer now directly owns 332,085 shares of the company’s stock, valued at $18,746,198.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Commercial Metals news, CEO Barbara Smith sold 1,700 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $56.45, for a total value of $95,965.00. Following the completion of the transaction, the chief executive officer now directly owns 332,085 shares of the company’s stock, valued at $18,746,198.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ty L. Garrison sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $54.98, for a total value of $274,900.00. Following the completion of the transaction, the senior vice president now directly owns 106,408 shares of the company’s stock, valued at $5,850,311.84. The disclosure for this sale can be found here. Insiders sold a total of 125,947 shares of company stock valued at $6,603,283 over the last three months. Company insiders own 1.20% of the company’s stock.
Commercial Metals Stock Up 1.3 %
Commercial Metals (NYSE:CMC – Get Free Report) last released its earnings results on Thursday, June 22nd. The basic materials company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.84 by $0.18. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Commercial Metals had a return on equity of 26.49% and a net margin of 10.72%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. On average, equities research analysts forecast that Commercial Metals will post 7.7 EPS for the current year.
Commercial Metals Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Monday, July 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Commercial Metals’s dividend payout ratio (DPR) is presently 7.91%.
Wall Street Analysts Forecast Growth
CMC has been the topic of a number of research analyst reports. UBS Group initiated coverage on Commercial Metals in a research report on Tuesday, July 11th. They set a “buy” rating and a $63.00 price target on the stock. BMO Capital Markets increased their price target on Commercial Metals from $56.00 to $58.00 in a research report on Friday, June 23rd. StockNews.com upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Bank of America upgraded Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a research report on Wednesday, April 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.
Commercial Metals Company 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. 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.
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