State of Wyoming Buys 15,689 Shares of Commercial Metals Company $CMC

State of Wyoming lifted its stake in Commercial Metals Company (NYSE:CMC) by 199.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,559 shares of the basic materials company’s stock after purchasing an additional 15,689 shares during the period. State of Wyoming’s holdings in Commercial Metals were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC grew its position in Commercial Metals by 3.1% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after buying an additional 149 shares during the period. Quadrant Capital Group LLC grew its position in Commercial Metals by 2.9% during the third quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock valued at $380,000 after buying an additional 188 shares during the period. Captrust Financial Advisors grew its position in Commercial Metals by 4.4% during the second quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after buying an additional 202 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Commercial Metals by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock valued at $1,383,000 after buying an additional 206 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in Commercial Metals by 4.7% during the third quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock valued at $274,000 after buying an additional 213 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays assumed coverage on shares of Commercial Metals in a research report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Morgan Stanley boosted their target price on shares of Commercial Metals from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company cut their target price on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.10.

Commercial Metals Stock Performance

CMC opened at $76.72 on Thursday. The firm has a market cap of $8.51 billion, a P/E ratio of 17.09, a PEG ratio of 0.46 and a beta of 1.50. Commercial Metals Company has a 1-year low of $47.06 and a 1-year 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. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55.

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

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.20 dividend. The ex-dividend date was Monday, April 6th. This is an increase 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%. Commercial Metals’s dividend payout ratio (DPR) is currently 16.04%.

About Commercial Metals

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.