Mitsubishi UFJ Trust & Banking Corp Has $818,000 Stock Position in Commercial Metals (NYSE:CMC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Commercial Metals (NYSE:CMCGet Rating) by 11.3% in the 1st quarter, HoldingsChannel reports. The fund owned 19,648 shares of the basic materials company’s stock after selling 2,500 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Commercial Metals were worth $818,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CMC. GSA Capital Partners LLP bought a new position in Commercial Metals in the 4th quarter worth approximately $459,000. Retirement Systems of Alabama boosted its holdings in Commercial Metals by 0.9% in the first quarter. Retirement Systems of Alabama now owns 159,396 shares of the basic materials company’s stock valued at $6,634,000 after acquiring an additional 1,485 shares during the last quarter. State of Michigan Retirement System increased its position in Commercial Metals by 1.0% in the first quarter. State of Michigan Retirement System now owns 30,837 shares of the basic materials company’s stock worth $1,283,000 after purchasing an additional 299 shares during the period. Principal Financial Group Inc. raised its holdings in Commercial Metals by 178.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,509,265 shares of the basic materials company’s stock worth $62,816,000 after purchasing an additional 967,546 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in Commercial Metals by 86.5% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 27,773 shares of the basic materials company’s stock valued at $1,156,000 after purchasing an additional 12,884 shares during the period. 85.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CMC. The Goldman Sachs Group dropped their price target on shares of Commercial Metals from $42.00 to $38.00 in a research note on Tuesday, May 31st. JPMorgan Chase & Co. decreased their price objective on Commercial Metals from $55.00 to $54.00 in a research note on Tuesday, June 14th. Citigroup cut their target price on Commercial Metals from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, June 17th. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, Credit Suisse Group increased their price target on shares of Commercial Metals from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, June 17th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.40.

Insider Transactions at Commercial Metals

In related news, SVP Ty L. Garrison sold 20,000 shares of Commercial Metals stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $39.28, for a total value of $785,600.00. Following the sale, the senior vice president now owns 114,609 shares of the company’s stock, valued at approximately $4,501,841.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Commercial Metals Price Performance

Shares of CMC opened at $39.13 on Tuesday. The stock has a 50 day simple moving average of $38.34 and a 200 day simple moving average of $39.21. Commercial Metals has a 52-week low of $28.76 and a 52-week high of $46.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.51 and a current ratio of 2.48. The firm has a market capitalization of $4.71 billion, a PE ratio of 4.45 and a beta of 1.22.

Commercial Metals (NYSE:CMCGet Rating) last announced its quarterly earnings results on Thursday, June 16th. The basic materials company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.52. Commercial Metals had a net margin of 12.66% and a return on equity of 31.92%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Sell-side analysts predict that Commercial Metals will post 8.1 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 29th were issued a $0.14 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. Commercial Metals’s dividend payout ratio (DPR) is 6.36%.

Commercial Metals Profile

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

See Also

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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