Commercial Metals (NYSE:CMC) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in shares of Commercial Metals (NYSE:CMCFree Report) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,344 shares of the basic materials company’s stock after selling 5,667 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Commercial Metals worth $6,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in shares of Commercial Metals by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,154 shares of the basic materials company’s stock worth $658,000 after buying an additional 228 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Commercial Metals by 1.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,471 shares of the basic materials company’s stock valued at $1,160,000 after purchasing an additional 247 shares during the last quarter. Diversified Trust Co increased its holdings in Commercial Metals by 1.2% in the 3rd quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 292 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in Commercial Metals by 7.4% in the 4th quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 352 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in Commercial Metals by 9.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 4,421 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMC. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. BMO Capital Markets lifted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Check Out Our Latest Research Report on Commercial Metals

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the transaction, the chairman now owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Commercial Metals Stock Performance

Shares of CMC stock opened at $52.09 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The stock has a market capitalization of $6.03 billion, a PE ratio of 9.05 and a beta of 1.27. The firm has a 50 day moving average of $55.92 and a two-hundred day moving average of $52.93.

Commercial Metals (NYSE:CMCGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $1.44 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts predict that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s dividend payout ratio (DPR) is currently 12.50%.

Commercial Metals Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMCFree Report).

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

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.