New York State Teachers Retirement System Has $5.57 Million Stock Position in Commercial Metals (NYSE:CMC)

New York State Teachers Retirement System lowered its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,247 shares of the basic materials company's stock after selling 32,367 shares during the period. New York State Teachers Retirement System owned 0.10% of Commercial Metals worth $5,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMC. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC increased its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock worth $130,000 after acquiring an additional 944 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Commercial Metals during the 4th quarter worth approximately $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. BMO Capital Markets decreased their price objective on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective on the stock. Finally, Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of "Hold" and a consensus target price of $62.33.

Commercial Metals Trading Up 0.6 %

Commercial Metals stock traded up $0.31 during trading hours on Monday, hitting $50.09. The stock had a trading volume of 931,099 shares, compared to its average volume of 1,114,374. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 2.62 and a beta of 1.18. Commercial Metals has a one year low of $45.50 and a one year high of $64.53. The business's 50 day simple moving average is $50.05 and its 200-day simple moving average is $53.65.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, equities analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Commercial Metals's payout ratio is 64.86%.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. 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.