Commercial Metals Company $CMC Position Lessened by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its stake in shares of Commercial Metals Company (NYSE:CMC) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,178 shares of the basic materials company’s stock after selling 2,669 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Commercial Metals were worth $1,818,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Commercial Metals during the first quarter valued at $44,345,000. American Century Companies Inc. lifted its position in Commercial Metals by 86.1% in the 1st quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after purchasing an additional 734,265 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Commercial Metals by 14.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock valued at $191,461,000 after purchasing an additional 539,309 shares during the period. Millennium Management LLC grew its position in Commercial Metals by 124.3% in the 1st quarter. Millennium Management LLC now owns 926,718 shares of the basic materials company’s stock worth $42,638,000 after purchasing an additional 513,630 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Commercial Metals by 440.3% in the 1st quarter. Deutsche Bank AG now owns 572,748 shares of the basic materials company’s stock worth $26,352,000 after purchasing an additional 466,743 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CMC shares. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $65.00 in a research report on Friday, October 17th. Morgan Stanley raised Commercial Metals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $57.50 to $68.00 in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on Commercial Metals from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.20.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson acquired 1,722 shares of the stock in a transaction dated Monday, October 20th. The shares were bought at an average price of $58.09 per share, with a total value of $100,030.98. Following the purchase, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This trade represents a 34.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Commercial Metals Stock Up 2.0%

Shares of CMC stock opened at $63.90 on Friday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The business’s fifty day moving average is $59.06 and its 200-day moving average is $54.76. The stock has a market cap of $7.09 billion, a PE ratio of 84.08, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34.

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

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, October 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

Commercial Metals Company 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.