California State Teachers Retirement System Purchases 28,765 Shares of Commercial Metals Company $CMC

California State Teachers Retirement System increased its position in shares of Commercial Metals Company (NYSE:CMC) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 133,808 shares of the basic materials company’s stock after buying an additional 28,765 shares during the quarter. California State Teachers Retirement System’s holdings in Commercial Metals were worth $8,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC raised its position in shares of Commercial Metals by 110.7% during the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 301 shares during the period. V Square Quantitative Management LLC bought a new stake in Commercial Metals during the 4th quarter valued at $54,000. Caitong International Asset Management Co. Ltd raised its holdings in Commercial Metals by 617.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after buying an additional 716 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Commercial Metals during the fourth quarter worth $59,000. Finally, Colonial Trust Co SC acquired a new position in shares of Commercial Metals during the fourth quarter valued at about $81,000. Institutional investors own 86.90% of the company’s stock.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the acquisition, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. This represents a 4.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.62% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC opened at $72.68 on Wednesday. The company has a market capitalization of $8.04 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.40 and a beta of 1.52. The company has a fifty day moving average of $69.90 and a 200-day moving average of $70.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. Commercial Metals Company has a 52-week low of $50.26 and a 52-week high of $84.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data 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. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts predict that Commercial Metals Company will post 6.64 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s dividend payout ratio is presently 15.07%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays initiated coverage on shares of Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 target price on the stock. BNP Paribas Exane raised Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their target price on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets decreased their price target on Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a report on Monday, June 29th. Finally, Wells Fargo & Company upped their target price on shares of Commercial Metals from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.45.

About Commercial Metals

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.