California Public Employees Retirement System Increases Stake in Commercial Metals Company $CMC

California Public Employees Retirement System grew its stake in shares of Commercial Metals Company (NYSE:CMC) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,877 shares of the basic materials company’s stock after buying an additional 28,693 shares during the period. California Public Employees Retirement System’s holdings in Commercial Metals were worth $17,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Qsemble Capital Management LP boosted its position in Commercial Metals by 118.6% during the fourth quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock valued at $3,453,000 after buying an additional 27,062 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of Commercial Metals by 45.5% in the third quarter. Tudor Investment Corp ET AL now owns 217,082 shares of the basic materials company’s stock worth $12,434,000 after buying an additional 67,864 shares during the period. NFJ Investment Group LLC purchased a new position in shares of Commercial Metals in the fourth quarter worth about $12,600,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Commercial Metals by 2.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 977,385 shares of the basic materials company’s stock valued at $67,655,000 after acquiring an additional 27,775 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Commercial Metals in the 4th quarter valued at about $103,962,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Peter R. Matt purchased 8,230 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the completion of the acquisition, the chief executive officer directly owned 181,522 shares in the company, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Commercial Metals Trading Down 0.2%

CMC opened at $67.96 on Friday. Commercial Metals Company has a one year low of $49.66 and a one year 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 $70.18 and a two-hundred day simple moving average of $70.51. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.39 and a beta of 1.54.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 earnings per share 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company earned $0.74 EPS. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Analysts predict that Commercial Metals Company will post 6.63 EPS for the current year.

Commercial Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. The Goldman Sachs Group started coverage on shares of Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.45.

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.