Strs Ohio Has $10.25 Million Stake in Commercial Metals Company $CMC

Key Points

• Strs Ohio boosted its stake in Commercial Metals by 14.6%, buying 18,900 shares to hold 148,100 shares worth approximately $10.25 million (about 0.13% of the company).
• Commercial Metals reported Q EPS of $1.16, missing estimates of $1.28 while revenue rose 21.5% YoY to $2.13 billion; the company has a market cap of $7.42 billion and a consensus "Moderate Buy" rating with an average price target of $71.50.
• The company raised its quarterly dividend to $0.20 ($0.80 annualized, ~1.2% yield) and about 86.9% of its shares are held by institutional investors.

Strs Ohio boosted its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,100 shares of the basic materials company's stock after buying an additional 18,900 shares during the period. Strs Ohio owned approximately 0.13% of Commercial Metals worth $10,251,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Commercial Metals by 11.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 225,817 shares of the basic materials company's stock valued at $13,312,000 after purchasing an additional 22,587 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Commercial Metals by 430.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company's stock valued at $1,675,000 after purchasing an additional 23,738 shares during the period. American Century Companies Inc. boosted its stake in shares of Commercial Metals by 6.6% during the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company's stock valued at $104,474,000 after purchasing an additional 112,267 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Commercial Metals during the third quarter valued at $910,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Commercial Metals during the third quarter valued at $821,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $66.94 on Tuesday. The company has a market capitalization of $7.42 billion, a PE ratio of 14.91, a P/E/G ratio of 0.39 and a beta of 1.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. The company has a 50-day simple moving average of $66.05 and a two-hundred day simple moving average of $67.81. Commercial Metals Company has a one year low of $44.67 and a one year high of $84.87.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts expect that Commercial Metals Company will post 6.54 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. This is an increase from Commercial Metals's previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 6th. Commercial Metals's dividend payout ratio is currently 16.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports 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. Citigroup boosted their target price on shares of Commercial Metals from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Jefferies Financial Group set a $85.00 price objective on shares of Commercial Metals and gave the stock a "buy" rating in a research note on Thursday, January 8th. Finally, KeyCorp began coverage on shares of Commercial Metals in a research note on Wednesday, March 25th. They issued a "sector weight" rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $71.50.

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.

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