Illinois Municipal Retirement Fund Has $2.97 Million Stake in Commercial Metals Company (NYSE:CMC)

Illinois Municipal Retirement Fund boosted its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 23.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,568 shares of the basic materials company's stock after buying an additional 12,369 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Commercial Metals worth $2,971,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Independent Solutions Wealth Management LLC raised its holdings in shares of Commercial Metals by 71.2% in the 1st quarter. Independent Solutions Wealth Management LLC now owns 7,780 shares of the basic materials company's stock worth $358,000 after buying an additional 3,235 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Commercial Metals by 62.2% during the first quarter. Harbour Capital Advisors LLC now owns 13,830 shares of the basic materials company's stock worth $636,000 after acquiring an additional 5,305 shares in the last quarter. Covea Finance raised its stake in Commercial Metals by 36.3% during the first quarter. Covea Finance now owns 84,500 shares of the basic materials company's stock worth $3,888,000 after acquiring an additional 22,500 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Commercial Metals by 26.0% during the first quarter. Blue Trust Inc. now owns 7,012 shares of the basic materials company's stock valued at $323,000 after acquiring an additional 1,447 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Commercial Metals by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Trading Up 0.0%

Shares of NYSE CMC opened at $50.09 on Monday. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $47.34 and a two-hundred day moving average of $47.78. The company has a market cap of $5.61 billion, a PE ratio of 161.58, a P/E/G ratio of 2.06 and a beta of 1.27.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. As a group, equities analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is presently 232.26%.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, the director now directly owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMC. JPMorgan Chase & Co. started coverage on shares of Commercial Metals in a research report on Friday, May 30th. They set a "neutral" rating and a $52.00 target price for the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Friday, June 20th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price target on Commercial Metals in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Commercial Metals currently has an average rating of "Hold" and an average price target of $57.21.

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. It operates through two segments, North America and Europe. 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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