Commercial Metals (NYSE:CMC) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Commercial Metals (NYSE:CMC - Free Report) by 44.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,565 shares of the basic materials company's stock after buying an additional 11,015 shares during the quarter. Teacher Retirement System of Texas' holdings in Commercial Metals were worth $1,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CMC. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC boosted its holdings in 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 valued at $35,000 after acquiring an additional 267 shares during the period. Jones Financial Companies Lllp grew 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 last quarter. Amundi increased its stake in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after purchasing an additional 504 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock worth $130,000 after purchasing an additional 944 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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Commercial Metals Stock Down 0.4 %

NYSE CMC traded down $0.17 during midday trading on Monday, hitting $46.01. 1,204,264 shares of the company traded hands, compared to its average volume of 908,462. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The company's 50-day simple moving average is $48.57 and its 200-day simple moving average is $52.68. The company has a market cap of $5.23 billion, a PE ratio of 41.45, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. 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 (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Analyst Ratings Changes

Several research analysts recently commented on CMC shares. Morgan Stanley reduced their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. BMO Capital Markets reduced their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. 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 target for the company. Jefferies Financial Group reduced 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. Finally, UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.33.

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.