Commercial Metals Company $CMC Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Commercial Metals Company (NYSE:CMC) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,926,864 shares of the basic materials company’s stock after acquiring an additional 86,749 shares during the quarter. Geode Capital Management LLC’s holdings in Commercial Metals were worth $202,626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMC. Artemis Investment Management LLP acquired a new stake in Commercial Metals in the fourth quarter worth about $103,962,000. Merewether Investment Management LP acquired a new stake in shares of Commercial Metals during the third quarter worth about $26,847,000. UBS Group AG lifted its holdings in shares of Commercial Metals by 41.8% during the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock worth $87,130,000 after purchasing an additional 448,083 shares during the period. Millennium Management LLC lifted its holdings in shares of Commercial Metals by 44.2% during the third quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company’s stock worth $58,054,000 after purchasing an additional 310,431 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Commercial Metals by 11,006.1% during the third quarter. Bessemer Group Inc. now owns 260,993 shares of the basic materials company’s stock worth $14,948,000 after purchasing an additional 258,643 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Trading Up 1.2%

Shares of NYSE:CMC opened at $76.66 on Wednesday. Commercial Metals Company has a 12-month low of $47.06 and a 12-month high of $84.87. The company has a market capitalization of $8.50 billion, a PE ratio of 17.07, a PEG ratio of 0.45 and a beta of 1.50. The business has a 50 day moving average of $67.56 and a two-hundred day moving average of $69.63. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, analysts forecast that Commercial Metals Company will post 6.45 EPS for the current year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is currently 16.04%.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of research reports. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a report on Friday, May 22nd. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Barclays initiated coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 target price for the company. Finally, KeyCorp initiated coverage on Commercial Metals in a report on Wednesday, March 25th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.10.

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.