State of Wyoming Raises Stake in Commercial Metals Company $CMC

State of Wyoming boosted its holdings in shares of Commercial Metals Company (NYSE:CMC) by 199.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,559 shares of the basic materials company’s stock after acquiring an additional 15,689 shares during the period. State of Wyoming’s holdings in Commercial Metals were worth $1,631,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in Commercial Metals by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,110,633 shares of the basic materials company’s stock valued at $76,878,000 after acquiring an additional 96,080 shares during the period. Natixis Advisors LLC lifted its position in Commercial Metals by 7.6% during the 4th quarter. Natixis Advisors LLC now owns 203,917 shares of the basic materials company’s stock valued at $14,115,000 after acquiring an additional 14,444 shares during the period. BNP Paribas Financial Markets lifted its position in Commercial Metals by 23.0% during the 4th quarter. BNP Paribas Financial Markets now owns 73,505 shares of the basic materials company’s stock valued at $5,088,000 after acquiring an additional 13,744 shares during the period. Norges Bank purchased a new position in Commercial Metals during the 4th quarter valued at about $97,983,000. Finally, IF Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $426,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 27th. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price for the company. UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Finally, KeyCorp initiated coverage on shares of Commercial Metals in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.10.

Commercial Metals Stock Up 0.2%

Shares of Commercial Metals stock opened at $76.72 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. The stock has a market capitalization of $8.51 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. Commercial Metals Company has a 52-week low of $47.06 and a 52-week high of $84.87. The company has a 50-day simple moving average of $68.19 and a two-hundred day simple moving average of $69.86.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Commercial Metals Company will post 6.45 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.20 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, April 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 16.04%.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.