Mitsubishi UFJ Trust & Banking Corp Buys 23,738 Shares of Commercial Metals Company $CMC

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Commercial Metals Company (NYSE:CMC) by 430.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,247 shares of the basic materials company’s stock after purchasing an additional 23,738 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Commercial Metals were worth $1,675,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Commercial Metals by 1.4% during the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after buying an additional 1,219 shares in the last quarter. Amundi raised its position in shares of Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Commercial Metals by 614.9% during the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Commercial Metals by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after acquiring an additional 56,875 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after acquiring an additional 941 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.4%

Shares of NYSE:CMC opened at $76.85 on Friday. The company has a 50 day moving average price of $70.79 and a two-hundred day moving average price of $61.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.70 and a current ratio of 4.47. The company has a market capitalization of $8.52 billion, a PE ratio of 19.81, a PEG ratio of 0.42 and a beta of 1.49. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $79.61.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.29. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Commercial Metals’s dividend payout ratio (DPR) is currently 18.56%.

Insider Activity

In other Commercial Metals news, Director Dennis V. Arriola acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the transaction, the director owned 9,238 shares of the company’s stock, valued at $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMC shares. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Citigroup raised their target price on shares of Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. UBS Group reissued a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th. Zacks Research upgraded shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Wells Fargo & Company lifted their target price on shares of Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Commercial Metals presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Commercial Metals 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.