Mutual of America Capital Management LLC Reduces Holdings in Commercial Metals Company $CMC

Mutual of America Capital Management LLC lessened its position in shares of Commercial Metals Company (NYSE:CMC) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,197 shares of the basic materials company’s stock after selling 2,292 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Commercial Metals worth $2,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. lifted its position in shares of 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 buying an additional 539,309 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock valued at $142,139,000 after buying an additional 666,886 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Commercial Metals by 86.1% during 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 buying an additional 734,265 shares during the last quarter. Invesco Ltd. lifted its holdings in Commercial Metals by 37.1% during the 1st quarter. Invesco Ltd. now owns 1,568,021 shares of the basic materials company’s stock worth $72,145,000 after purchasing an additional 424,313 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Commercial Metals by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after purchasing an additional 56,875 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $61.18 on Friday. The firm has a market capitalization of $6.79 billion, a P/E ratio of 80.49, a P/E/G ratio of 1.95 and a beta of 1.32. 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’s 50-day simple moving average is $58.30 and its two-hundred day simple moving average is $52.04. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $2.11 billion for 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 quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. As a group, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, October 30th. Commercial Metals’s dividend payout ratio is currently 94.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMC shares. UBS Group increased their price objective on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 13th. Bank of America increased their price objective on Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Morgan Stanley raised Commercial Metals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $57.50 to $68.00 in a report on Friday. Wells Fargo & Company increased their price objective on Commercial Metals from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, Citigroup raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $65.00 in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.80.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson bought 1,722 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were acquired at an average cost of $58.09 per share, for a total transaction of $100,030.98. Following the purchase, the director directly owned 6,722 shares of the company’s stock, valued at $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

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.