Illinois Municipal Retirement Fund Increases Stock Position in Commercial Metals Company $CMC

Illinois Municipal Retirement Fund boosted its position in shares of Commercial Metals Company (NYSE:CMC) by 99.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,544 shares of the basic materials company’s stock after buying an additional 9,743 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Commercial Metals were worth $1,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMC. State Street Corp grew its position in shares of Commercial Metals by 1.5% during the 4th quarter. State Street Corp now owns 6,361,477 shares of the basic materials company’s stock valued at $440,341,000 after acquiring an additional 91,104 shares during the period. Boston Partners increased its position in shares of Commercial Metals by 1.9% in the third quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after buying an additional 67,139 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Commercial Metals by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company’s stock worth $202,626,000 after buying an additional 86,749 shares during the period. Invesco Ltd. raised its stake in shares of Commercial Metals by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock worth $95,144,000 after buying an additional 76,365 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Commercial Metals by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,592,131 shares of the basic materials company’s stock valued at $110,207,000 after buying an additional 32,941 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt acquired 8,230 shares of the business’s stock in a transaction on Friday, July 10th. The stock was bought 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. The trade was a 4.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Commercial Metals Trading Up 0.6%

Shares of CMC stock opened at $68.13 on Thursday. The stock’s fifty day moving average is $70.28 and its two-hundred day moving average is $70.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. The firm has a market capitalization of $7.54 billion, a P/E ratio of 12.83, a PEG ratio of 0.39 and a beta of 1.54. Commercial Metals Company has a fifty-two week low of $49.66 and a fifty-two week high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Research analysts expect that Commercial Metals Company will post 6.63 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s dividend payout ratio is currently 15.07%.

Analysts Set New Price Targets

CMC has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Wells Fargo & Company increased their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. Finally, BNP Paribas Exane raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus price target of $79.45.

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.