Ontario Teachers Pension Plan Board Grows Position in Commercial Metals (NYSE:CMC)

Ontario Teachers Pension Plan Board grew its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 229.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,829 shares of the basic materials company's stock after purchasing an additional 15,901 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Commercial Metals were worth $1,132,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at $34,000. V Square Quantitative Management LLC grew its holdings in shares of Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after buying an additional 267 shares during the last quarter. Jones Financial Companies Lllp increased its position in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Commercial Metals during the 4th quarter worth approximately $105,000. Finally, Covestor Ltd grew its stake in shares of Commercial Metals by 19.0% in the 4th quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock valued at $107,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. UBS Group dropped their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $60.33.

Insiders Place Their Bets

In other news, Director John R. Mcpherson bought 2,475 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Commercial Metals Price Performance

CMC traded up $0.62 during trading on Friday, reaching $42.32. 888,354 shares of the stock were exchanged, compared to its average volume of 952,532. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53. The business's 50 day moving average price is $46.23 and its two-hundred day moving average price is $51.47.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter last year, the business posted $0.88 earnings per share. The business's revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

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.