Teachers Retirement System of The State of Kentucky Has $2.49 Million Stock Position in Commercial Metals Company $CMC

Key Points

• Teachers Retirement System of the State of Kentucky cut its stake in Commercial Metals by 46.7% in Q4, selling 31,486 shares and retaining 35,900 shares valued at about $2.485 million, while institutional investors collectively own roughly 86.9% of CMC.
• Commercial Metals reported quarterly EPS of $1.16 (missing the $1.28 consensus) while revenue rose 21.5% to $2.13 billion, and the company raised its quarterly dividend to $0.20 (annualized $0.80, ~1.2% yield); analysts' consensus is a "Moderate Buy" with a $71.50 target.

Teachers Retirement System of The State of Kentucky lowered its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,900 shares of the basic materials company's stock after selling 31,486 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Commercial Metals were worth $2,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMC. Root Financial Partners LLC acquired a new stake in shares of Commercial Metals during the third quarter worth $25,000. Rothschild Investment LLC lifted its holdings in shares of Commercial Metals by 169.6% during the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company's stock worth $29,000 after buying an additional 324 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Commercial Metals by 42.4% during the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company's stock worth $35,000 after buying an additional 183 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Commercial Metals during the fourth quarter worth $54,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Commercial Metals during the third quarter worth $73,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Transactions at Commercial Metals

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider owned 52,880 shares in the company, valued at $4,228,813.60. The trade was a 32.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is currently owned by corporate insiders.

Commercial Metals Stock Down 0.8%

Shares of NYSE CMC opened at $68.99 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. Commercial Metals Company has a 52 week low of $43.01 and a 52 week high of $84.87. The stock has a market capitalization of $7.65 billion, a P/E ratio of 15.36, a PEG ratio of 0.41 and a beta of 1.47. The stock's fifty day moving average is $66.46 and its 200 day moving average is $67.69.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly 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 company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business posted $0.26 EPS. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Commercial Metals Company will post 6.75 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.20 dividend. This is a boost from Commercial Metals's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, April 6th. Commercial Metals's dividend payout ratio (DPR) is presently 16.04%.

Analyst Ratings Changes

CMC has been the subject of a number of research reports. Citigroup lifted their target price on Commercial Metals from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, January 12th. The Goldman Sachs Group initiated coverage on Commercial Metals in a report on Wednesday, April 1st. They set a "neutral" rating and a $74.00 target price for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a report on Wednesday, January 21st. Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the stock a "buy" rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company decreased their price target on Commercial Metals from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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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