Trexquant Investment LP Acquires 219,745 Shares of Commercial Metals (NYSE:CMC)

Trexquant Investment LP boosted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 130.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 388,408 shares of the basic materials company's stock after buying an additional 219,745 shares during the period. Trexquant Investment LP owned approximately 0.34% of Commercial Metals worth $19,265,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock valued at $320,439,000 after acquiring an additional 24,665 shares in the last quarter. Boston Partners raised its stake in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after purchasing an additional 243,921 shares during the period. Geode Capital Management LLC raised its stake in shares of Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock valued at $156,093,000 after purchasing an additional 28,019 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Commercial Metals by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Commercial Metals by 87.0% during the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after buying an additional 893,094 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets dropped their target price on 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. UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Commercial Metals presently has an average rating of "Hold" and a consensus target price of $60.33.

Commercial Metals Stock Performance

NYSE:CMC traded down $5.38 during mid-day trading on Thursday, hitting $41.67. 2,125,470 shares of the stock were exchanged, compared to its average volume of 918,037. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm's 50-day simple moving average is $48.42 and its 200 day simple moving average is $52.61. Commercial Metals has a fifty-two week low of $41.29 and a fifty-two week high of $64.53. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Commercial Metals Company 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.