California State Teachers Retirement System Has $8.22 Million Holdings in Commercial Metals Company $CMC

Key Points

• California State Teachers Retirement System increased its Commercial Metals holdings by 27.4% in the first quarter, bringing its position to 133,808 shares worth approximately $8.22 million. Institutional investors and hedge funds collectively own 86.9% of CMC.
• Commercial Metals exceeded quarterly expectations, reporting $1.73 in earnings per share versus the $1.70 consensus and $2.48 billion in revenue, up 22.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $79.45, while the company pays a quarterly dividend of $0.20 per share, representing a 1.1% yield.

California State Teachers Retirement System increased its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,808 shares of the basic materials company's stock after acquiring an additional 28,765 shares during the period. California State Teachers Retirement System owned about 0.12% of Commercial Metals worth $8,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMC. State Street Corp increased its stake in shares of Commercial Metals by 1.5% in the fourth quarter. State Street Corp now owns 6,361,477 shares of the basic materials company's stock valued at $440,341,000 after buying an additional 91,104 shares in the last quarter. Boston Partners lifted its position in Commercial Metals by 1.9% during the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company's stock worth $208,629,000 after buying an additional 67,139 shares in the last quarter. Geode Capital Management LLC lifted its position in Commercial Metals by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company's stock worth $202,626,000 after buying an additional 86,749 shares in the last quarter. Invesco Ltd. grew its holdings in Commercial Metals by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company's stock worth $95,144,000 after acquiring an additional 76,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Commercial Metals by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,592,131 shares of the basic materials company's stock valued at $110,207,000 after acquiring an additional 32,941 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Commercial Metals

In other news, CEO Peter R. Matt acquired 8,230 shares of the stock in a transaction on Friday, July 10th. The stock was acquired at an average cost 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 trade represents a 4.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.62% of the company's stock.

Commercial Metals Stock Performance

CMC opened at $72.68 on Wednesday. Commercial Metals Company has a 12-month low of $50.26 and a 12-month high of $84.87. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.40 and a beta of 1.52. The business has a 50 day moving average of $69.90 and a 200-day moving average of $70.29. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results 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. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The firm's revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities research analysts expect that Commercial Metals Company will post 6.64 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals's dividend payout ratio is 15.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CMC shares. BNP Paribas Exane upgraded shares of Commercial Metals from a "neutral" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Commercial Metals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. UBS Group raised shares of Commercial Metals from a "neutral" rating to a "buy" rating and upped their target price for the company from $79.00 to $89.00 in a research note on Wednesday, May 13th. Zacks Research raised shares of Commercial Metals from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Citigroup cut their price objective on shares of Commercial Metals from $85.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.45.

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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