Illinois Municipal Retirement Fund Has $1.81 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Illinois Municipal Retirement Fund raised its position in Commercial Metals (NYSE:CMC) by 118.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,071 shares of the basic materials company’s stock after buying an additional 19,553 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Commercial Metals were worth $1,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. HM Payson & Co. bought a new stake in shares of Commercial Metals during the 3rd quarter valued at $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Commercial Metals during the 4th quarter valued at $30,000. Headlands Technologies LLC bought a new stake in shares of Commercial Metals during the 3rd quarter valued at $51,000. Planned Solutions Inc. bought a new stake in shares of Commercial Metals during the 4th quarter valued at $73,000. Finally, Adirondack Trust Co. bought a new stake in shares of Commercial Metals during the 3rd quarter valued at $84,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Price Performance

Shares of CMC stock opened at $53.47 on Friday. 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 twelve month low of $39.85 and a twelve month high of $59.81. The company has a market cap of $6.19 billion, a P/E ratio of 9.28 and a beta of 1.33. The business has a fifty day simple moving average of $55.41 and a 200 day simple moving average of $50.32.

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). 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 quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 earnings per share. On average, sell-side analysts forecast that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.35%. Commercial Metals’s dividend payout ratio (DPR) is currently 12.50%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the stock in a transaction dated Wednesday, March 27th. The stock was 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 directly owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 119,489 shares of company stock worth $6,371,781. 1.00% of the stock is currently owned by insiders.

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.