Commercial Metals (NYSE:CMC) Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in Commercial Metals (NYSE:CMC - Free Report) by 191.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,990 shares of the basic materials company's stock after purchasing an additional 37,433 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Commercial Metals worth $3,132,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Commercial Metals in the 3rd quarter worth about $66,000. Archer Investment Corp purchased a new position in shares of Commercial Metals in the 2nd quarter worth about $77,000. KBC Group NV raised its holdings in shares of Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock worth $170,000 after purchasing an additional 425 shares during the period. Innealta Capital LLC purchased a new position in shares of Commercial Metals in the 2nd quarter worth about $195,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Commercial Metals during the 3rd quarter valued at about $206,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They set a "buy" rating and a $75.00 target price on the stock. UBS Group reiterated a "sell" rating and set a $56.00 target price (down from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price on the stock. Finally, BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a "market perform" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.40.

Commercial Metals Stock Performance

Shares of CMC stock traded down $2.08 on Tuesday, hitting $54.20. 1,287,346 shares of the stock traded hands, compared to its average volume of 858,628. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company has a market capitalization of $6.18 billion, a PE ratio of 13.09, a PEG ratio of 2.74 and a beta of 1.15. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53. The company's fifty day moving average is $58.00 and its 200 day moving average is $55.21.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, equities research analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. Commercial Metals's payout ratio is 17.39%.

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.