VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.35 Million Position in Commercial Metals Company $CMC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Commercial Metals Company (NYSE:CMC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 37,514 shares of the basic materials company’s stock, valued at approximately $2,354,000.

A number of other hedge funds have also bought and sold shares of CMC. Qsemble Capital Management LP increased its holdings in shares of Commercial Metals by 118.6% in the 4th quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock valued at $3,453,000 after acquiring an additional 27,062 shares during the last quarter. California Public Employees Retirement System lifted its stake in Commercial Metals by 11.5% during the first quarter. California Public Employees Retirement System now owns 277,877 shares of the basic materials company’s stock worth $17,070,000 after purchasing an additional 28,693 shares during the last quarter. NFJ Investment Group LLC acquired a new position in Commercial Metals in the fourth quarter worth $12,600,000. Bank of America Corp DE boosted its holdings in Commercial Metals by 87.4% in the first quarter. Bank of America Corp DE now owns 1,631,213 shares of the basic materials company’s stock worth $100,205,000 after purchasing an additional 760,985 shares during the period. Finally, Kettle Hill Capital Management LLC bought a new stake in Commercial Metals during the fourth quarter valued at $11,457,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

CMC stock opened at $66.70 on Friday. Commercial Metals Company has a 1 year low of $53.08 and a 1 year high of $84.87. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.36 and a beta of 1.52. 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 stock’s fifty day moving average is $68.22 and its two-hundred day moving average is $68.61.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, research analysts predict that Commercial Metals Company will post 6.64 EPS for the current year.

Commercial Metals declared that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the basic materials company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were given a $0.20 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio is 15.07%.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson acquired 1,390 shares of Commercial Metals stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $71.92 per share, for a total transaction of $99,968.80. Following the completion of the transaction, the director owned 21,927 shares in the company, valued at approximately $1,576,989.84. This represents a 6.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter R. Matt acquired 8,230 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the acquisition, the chief executive officer directly owned 181,522 shares in the company, valued at approximately $11,127,298.60. This represents a 4.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Commercial Metals

Here are the key news stories impacting Commercial Metals this week:

• Positive Sentiment: Zacks Research raised its earnings forecasts across several periods, including FY2027 EPS to $7.18 from $7.13 and FY2028 EPS to $7.36 from $7.32. Quarterly estimates for 2027 and 2028 were also increased by $0.01–$0.02 per share, signaling slightly better expected profitability.
• Neutral Sentiment: Despite the estimate increases, Zacks maintained a “Hold” rating on Commercial Metals. Its current-year consensus EPS remains $6.64, suggesting the revisions are incremental rather than a major change in the company’s outlook.
• Negative Sentiment: JPMorgan lowered its price target for CMC from $86 to $83, although it retained an “Overweight” rating. The reduced target may be pressuring the stock, even though it still implies substantial upside from the referenced share price. JPMorgan lowers Commercial Metals price target

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMC shares. Weiss Ratings cut shares of Commercial Metals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. BMO Capital Markets increased their price objective on shares of Commercial Metals from $77.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Citigroup cut their target price on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Commercial Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.64.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a steel and metals manufacturing and recycling company headquartered in Irving, Texas. Founded in 1915, the company began as a scrap-metal business and has grown into an integrated producer, recycler and fabricator serving construction and industrial markets.

CMC manufactures and distributes a range of steel products, including reinforcing bar, merchant bar, wire rod, structural products, wire mesh and other products used in concrete construction and infrastructure projects.