State of Wyoming decreased its position in shares of Commercial Metals Company (NYSE:CMC – Free Report) by 42.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CMC. Royal Bank of Canada lifted its holdings in shares of Commercial Metals by 1.4% during the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock valued at $4,186,000 after purchasing an additional 1,219 shares during the last quarter. Amundi boosted its position in shares of Commercial Metals by 13.3% in the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 291 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Commercial Metals by 614.9% during the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after buying an additional 10,121 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Commercial Metals by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after buying an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Commercial Metals by 1.8% during the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after buying an additional 941 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CMC has been the subject of a number of research analyst reports. Citigroup decreased their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $79.00 to $89.00 in a report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, BNP Paribas Exane upgraded shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.45.
Commercial Metals Stock Performance
Shares of CMC stock opened at $67.96 on Friday. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. The business has a fifty day moving average of $70.18 and a 200 day moving average of $70.51. Commercial Metals Company has a 1 year low of $49.66 and a 1 year high of $84.87.
Commercial Metals (NYSE:CMC – Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, research analysts expect that Commercial Metals Company will post 6.63 earnings per share for the current year.
Commercial Metals Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals’s payout ratio is 15.07%.
Insider Buying and Selling
In other news, CEO Peter R. Matt bought 8,230 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 181,522 shares in the company, valued at approximately $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.62% of the stock is currently owned by corporate insiders.
Commercial Metals Company 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.
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