South Dakota Investment Council Acquires Shares of 24,447 Commercial Metals Company (NYSE:CMC)

South Dakota Investment Council purchased a new stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,447 shares of the basic materials company's stock, valued at approximately $1,125,000.

Other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Commercial Metals during the fourth quarter valued at $33,000. Heck Capital Advisors LLC bought a new position in Commercial Metals during the fourth quarter valued at $34,000. UMB Bank n.a. increased its position in Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares during the last quarter. Wayfinding Financial LLC bought a new position in Commercial Metals during the first quarter valued at $47,000. Finally, South Plains Financial Inc. bought a new position in Commercial Metals during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

CMC has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research note on Wednesday, June 25th. JPMorgan Chase & Co. increased their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and an average price target of $57.50.

Commercial Metals Stock Performance

Shares of Commercial Metals stock traded down $1.81 during midday trading on Thursday, hitting $52.42. The company had a trading volume of 186,044 shares, compared to its average volume of 1,124,967. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 168.98, a PEG ratio of 2.18 and a beta of 1.26. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $47.91. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS 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 analysts' expectations of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. As a group, analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were paid a $0.18 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. Commercial Metals's dividend payout ratio is currently 232.26%.

Commercial Metals 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.