Oregon Public Employees Retirement Fund Has $1.25 Million Stake in Commercial Metals (NYSE:CMC)

Oregon Public Employees Retirement Fund decreased its position in shares of Commercial Metals (NYSE:CMC – Get Rating) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,116 shares of the basic materials company’s stock after selling 260 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Commercial Metals were worth $1,246,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Commercial Metals by 81.4% during the second quarter. Envestnet Asset Management Inc. now owns 230,568 shares of the basic materials company’s stock worth $7,632,000 after buying an additional 103,438 shares in the last quarter. Xponance Inc. increased its holdings in shares of Commercial Metals by 7.2% during the second quarter. Xponance Inc. now owns 18,904 shares of the basic materials company’s stock worth $626,000 after buying an additional 1,274 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Commercial Metals in the second quarter valued at approximately $655,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of Commercial Metals by 9.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 26,995 shares of the basic materials company’s stock valued at $894,000 after purchasing an additional 2,395 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Commercial Metals in the third quarter valued at approximately $482,000. Institutional investors and hedge funds own 84.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Wednesday, January 18th. BMO Capital Markets raised their price target on shares of Commercial Metals from $49.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 10th. Bank of America assumed coverage on shares of Commercial Metals in a report on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 price target for the company. KeyCorp raised their price target on shares of Commercial Metals from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Finally, Citigroup lifted their target price on shares of Commercial Metals from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, October 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.14.

Insider Transactions at Commercial Metals

In other news, SVP Ty L. Garrison sold 6,900 shares of Commercial Metals stock in a transaction on Monday, October 31st. The shares were sold at an average price of $45.76, for a total transaction of $315,744.00. Following the transaction, the senior vice president now directly owns 124,508 shares of the company’s stock, valued at $5,697,486.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Barbara Smith sold 150,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $48.11, for a total value of $7,216,500.00. Following the sale, the chief executive officer now directly owns 227,651 shares of the company’s stock, valued at approximately $10,952,289.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ty L. Garrison sold 6,900 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $45.76, for a total transaction of $315,744.00. Following the completion of the sale, the senior vice president now directly owns 124,508 shares in the company, valued at $5,697,486.08. The disclosure for this sale can be found here. Insiders have sold a total of 162,400 shares of company stock valued at $7,804,384 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Commercial Metals Price Performance

CMC opened at $52.15 on Monday. The company has a fifty day moving average price of $49.60 and a two-hundred day moving average price of $43.52. The firm has a market capitalization of $6.12 billion, a PE ratio of 5.08 and a beta of 1.30. Commercial Metals has a 52 week low of $31.47 and a 52 week high of $56.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.99.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Thursday, January 19th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Commercial Metals’s dividend payout ratio is 6.24%.

Commercial Metals Company Profile

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.