Retirement Systems of Alabama Has $8.59 Million Holdings in Commercial Metals (NYSE:CMC)

Retirement Systems of Alabama trimmed its position in Commercial Metals (NYSE:CMC) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 146,155 shares of the basic materials company’s stock after selling 262 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Commercial Metals worth $8,590,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CMC. SummerHaven Investment Management LLC lifted its stake in Commercial Metals by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,154 shares of the basic materials company’s stock valued at $658,000 after purchasing an additional 228 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of Commercial Metals by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 67,943 shares of the basic materials company’s stock valued at $3,400,000 after acquiring an additional 251 shares during the last quarter. Diversified Trust Co raised its stake in shares of Commercial Metals by 1.2% during the third quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock valued at $1,176,000 after acquiring an additional 292 shares during the last quarter. AlphaMark Advisors LLC raised its stake in shares of Commercial Metals by 7.4% during the fourth quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 352 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its stake in shares of Commercial Metals by 2.0% during the first quarter. Green Alpha Advisors LLC now owns 23,626 shares of the basic materials company’s stock valued at $1,388,000 after acquiring an additional 459 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Down 0.7 %

Shares of NYSE CMC traded down $0.35 during mid-day trading on Friday, reaching $52.64. 707,119 shares of the company’s stock traded hands, compared to its average volume of 911,349. The stock has a market cap of $6.05 billion, a P/E ratio of 11.04 and a beta of 1.17. The business has a 50-day simple moving average of $54.50 and a 200 day simple moving average of $53.74. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, analysts expect that Commercial Metals will post 4.71 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, July 1st. Commercial Metals’s dividend payout ratio is 15.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMC. BMO Capital Markets raised their price target on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Bank of America lowered their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.50.

Commercial Metals Company 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.