Renaissance Technologies LLC Purchases New Shares in Commercial Metals Company $CMC

Renaissance Technologies LLC purchased a new position in Commercial Metals Company (NYSE:CMC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,600 shares of the basic materials company’s stock, valued at approximately $3,600,000. Renaissance Technologies LLC owned 0.05% of Commercial Metals as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CMC. Lazard Asset Management LLC boosted its stake in shares of Commercial Metals by 0.6% during the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock worth $1,606,000 after purchasing an additional 133 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Commercial Metals by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 149 shares during the last quarter. Corient Private Wealth LLC raised its position in Commercial Metals by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company’s stock worth $1,630,000 after purchasing an additional 155 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Commercial Metals by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock worth $256,000 after purchasing an additional 160 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Commercial Metals by 2.9% in the third quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMC. JPMorgan Chase & Co. dropped their target price on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Bank of America decreased their price target on Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. BMO Capital Markets increased their target price on Commercial Metals from $77.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Weiss Ratings raised shares of Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.18.

Commercial Metals News Summary

Here are the key news stories impacting Commercial Metals this week:

• Positive Sentiment: Share buyback supports the stock: Commercial Metals authorized a program to repurchase up to $600 million of its outstanding shares, representing as much as 7.5% of the company’s stock. The authorization signals management believes the shares are undervalued and could support earnings per share by reducing the share count. Commercial Metals to Repurchase $600 Million in Outstanding Shares
• Positive Sentiment: Zacks raises longer-term EPS estimates: Zacks Research increased its forecasts across several periods, including Q1 2027 EPS to $1.79 from $1.77, FY2027 EPS to $7.13 from $7.08, and FY2028 EPS to $7.32 from $7.27. Estimates for Q4 2027, Q1-Q3 2028 were also raised by $0.01 per share, suggesting slightly improved expectations for future profitability.
• Neutral Sentiment: Analyst target rises, but rating remains cautious: BMO Capital Markets lifted its price target for CMC from $77 to $80 while maintaining a “Market Perform” rating. The higher target offers moderate potential upside, but the unchanged rating indicates BMO does not expect substantial outperformance relative to the broader market. BMO Capital Markets Raises Commercial Metals Price Target

Commercial Metals Stock Up 2.0%

Shares of NYSE:CMC opened at $75.17 on Friday. Commercial Metals Company has a 52-week low of $52.74 and a 52-week high of $84.87. The stock has a market cap of $8.32 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.52. The business’s 50 day moving average is $69.80 and its 200 day moving average is $70.32. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.74 EPS. Commercial Metals’s revenue was up 22.9% on a year-over-year basis. Sell-side analysts predict that Commercial Metals Company will post 6.64 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, July 6th. Commercial Metals’s payout ratio is presently 15.07%.

Commercial Metals declared that its board has initiated a share buyback plan on Wednesday, August 5th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Commercial Metals news, CEO Peter R. Matt acquired 8,230 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the purchase, the chief executive officer directly owned 181,522 shares in the company, valued at $11,127,298.60. The trade was a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by company insiders.

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.