32,200 Shares in Commercial Metals Company $CMC Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Commercial Metals Company (NYSE:CMC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,200 shares of the basic materials company’s stock, valued at approximately $1,978,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC boosted its position 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 worth $40,000 after acquiring an additional 301 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth about $54,000. Caitong International Asset Management Co. Ltd raised its position in shares of Commercial Metals by 617.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 716 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Commercial Metals during the fourth quarter worth approximately $59,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Commercial Metals during the third quarter worth approximately $73,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CMC shares. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the company from $79.00 to $89.00 in a research report on Wednesday, May 13th. Zacks Research lowered shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Friday, June 12th. BMO Capital Markets reduced their price target on shares of Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus target price of $80.10.

Commercial Metals Price Performance

Commercial Metals stock opened at $62.65 on Wednesday. Commercial Metals Company has a 12 month low of $48.14 and a 12 month high of $84.87. 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 50 day simple moving average of $72.00 and a 200-day simple moving average of $71.24. The stock has a market capitalization of $6.95 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.37 and a beta of 1.50.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities analysts predict that Commercial Metals Company will post 6.53 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is 15.07%.

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.