New York State Common Retirement Fund Has $9.56 Million Stock Position in Commercial Metals (NYSE:CMC)

New York State Common Retirement Fund cut its position in Commercial Metals (NYSE:CMC) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 191,005 shares of the basic materials company’s stock after selling 2,420 shares during the quarter. New York State Common Retirement Fund’s holdings in Commercial Metals were worth $9,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock valued at $615,159,000 after acquiring an additional 487,792 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Commercial Metals by 26.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after buying an additional 527,709 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Commercial Metals by 32.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,385,435 shares of the basic materials company’s stock worth $68,454,000 after buying an additional 335,926 shares during the period. American Century Companies Inc. increased its position in Commercial Metals by 2.8% in the 3rd quarter. American Century Companies Inc. now owns 1,182,690 shares of the basic materials company’s stock worth $58,437,000 after buying an additional 32,217 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Commercial Metals by 31.3% in the third quarter. AQR Capital Management LLC now owns 703,881 shares of the basic materials company’s stock valued at $34,779,000 after acquiring an additional 167,865 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CMC has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. UBS Group began coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price objective for the company. Finally, StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

Insider Transactions 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 the last ninety days, insiders sold 119,489 shares of company stock valued at $6,371,781. Corporate insiders own 1.00% of the company’s stock.

Commercial Metals Stock Up 0.8 %

Shares of CMC stock opened at $54.15 on Thursday. The stock has a market cap of $6.27 billion, a P/E ratio of 9.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The stock has a fifty day moving average price of $55.39 and a 200 day moving average price of $50.50. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

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

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were paid a $0.18 dividend. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 28th. Commercial Metals’s dividend payout ratio is currently 12.50%.

About Commercial Metals

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.