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

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Commercial Metals Company (NYSE:CMC) by 430.9% in the third quarter, Holdings Channel.com reports. The firm owned 29,247 shares of the basic materials company’s stock after acquiring an additional 23,738 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Commercial Metals were worth $1,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMC. Norges Bank acquired a new position in shares of Commercial Metals during the second quarter worth about $70,402,000. Vaughan Nelson Investment Management L.P. bought a new stake in Commercial Metals in the 3rd quarter valued at approximately $54,394,000. Encompass Capital Advisors LLC acquired a new position in Commercial Metals during the 2nd quarter worth approximately $34,225,000. Thomist Capital Management LP acquired a new position in Commercial Metals during the 2nd quarter worth approximately $14,950,000. Finally, Franklin Resources Inc. grew its stake in shares of Commercial Metals by 10.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock worth $156,215,000 after acquiring an additional 290,256 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity at Commercial Metals

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

Analyst Ratings Changes

CMC has been the topic of a number of research reports. Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and set a $84.00 price target on shares of Commercial Metals in a research report on Tuesday, December 30th. JPMorgan Chase & Co. upgraded shares of Commercial Metals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $64.00 to $78.00 in a research note on Friday, December 5th. Citigroup lifted their target price on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Jefferies Financial Group set a $85.00 target price on Commercial Metals and gave the stock a “buy” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Commercial Metals Stock Performance

Shares of CMC opened at $76.85 on Friday. The company has a market cap of $8.52 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. The firm has a 50-day moving average of $70.79 and a 200-day moving average of $61.87. Commercial Metals Company has a one year low of $37.92 and a one year high of $79.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70.

Commercial Metals (NYSE:CMC) last issued its 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. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the business posted $0.78 EPS. Commercial Metals’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

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

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.