Louisiana State Employees Retirement System Acquires New Holdings in Commercial Metals (NYSE:CMC)

Louisiana State Employees Retirement System acquired a new stake in Commercial Metals (NYSE:CMC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 32,800 shares of the basic materials company’s stock, valued at approximately $1,641,000.

Other institutional investors have also made changes to their positions in the company. HM Payson & Co. bought a new position in shares of Commercial Metals in the 3rd quarter valued at approximately $25,000. Point72 Asset Management L.P. bought a new position in Commercial Metals in the 2nd quarter worth approximately $30,000. Quarry LP bought a new position in Commercial Metals in the 1st quarter worth approximately $30,000. Sunbelt Securities Inc. bought a new position in Commercial Metals in the 1st quarter worth approximately $30,000. Finally, Geneos Wealth Management Inc. increased its position in Commercial Metals by 920.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock worth $42,000 after buying an additional 920 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $55.21 on Friday. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81. The firm has a market capitalization of $6.39 billion, a PE ratio of 9.59 and a beta of 1.33. The business’s 50 day moving average is $55.41 and its 200-day moving average is $50.10. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $1.44 EPS. Commercial Metals’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Commercial Metals will post 5.34 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 28th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s dividend payout ratio (DPR) is presently 12.50%.

Insider Activity at Commercial Metals

In related news, Chairman Barbara Smith sold 60,166 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total value of $3,085,312.48. Following the sale, the chairman now owns 96,019 shares of the company’s stock, valued at approximately $4,923,854.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Lindsay L. Sloan sold 600 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at approximately $635,653.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Barbara Smith sold 60,166 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48. Following the completion of the sale, the chairman now directly owns 96,019 shares in the company, valued at approximately $4,923,854.32. The disclosure for this sale can be found here. Insiders have sold a total of 120,089 shares of company stock valued at $6,402,693 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group assumed coverage on Commercial Metals in a research report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target on the stock. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their price target on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd.

Commercial Metals 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.