Commercial Metals Company $CMC Stock Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Commercial Metals Company (NYSE:CMC) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,939,563 shares of the basic materials company’s stock after buying an additional 3,466 shares during the quarter. Geode Capital Management LLC’s holdings in Commercial Metals were worth $143,790,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in Commercial Metals by 266.1% during the first quarter. CWM LLC now owns 3,379 shares of the basic materials company’s stock worth $155,000 after acquiring an additional 2,456 shares during the period. Choreo LLC boosted its position in shares of Commercial Metals by 2.1% during the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock valued at $509,000 after purchasing an additional 228 shares in the last quarter. Madison Asset Management LLC acquired a new position in shares of Commercial Metals in the 1st quarter worth approximately $253,000. Royce & Associates LP raised its holdings in shares of Commercial Metals by 17.7% in the 1st quarter. Royce & Associates LP now owns 543,207 shares of the basic materials company’s stock worth $24,993,000 after purchasing an additional 81,740 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in Commercial Metals by 8.3% during the first quarter. Avantax Advisory Services Inc. now owns 6,566 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 503 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $57.78 on Wednesday. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.41 billion, a PE ratio of 76.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. The business has a fifty day simple moving average of $58.78 and a 200-day simple moving average of $54.15.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is currently 94.74%.

Insider Buying and Selling

In related news, Director John R. Mcpherson acquired 1,722 shares of the company’s stock in a transaction on Monday, October 20th. The shares were purchased at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the purchase, the director owned 6,722 shares in the company, valued at $390,480.98. This represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CMC shares. Zacks Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. UBS Group restated a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. Citigroup raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $65.00 in a research report on Friday, October 17th. The Goldman Sachs Group lifted their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.20.

About Commercial Metals

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.