Teacher Retirement System of Texas Purchases 11,015 Shares of Commercial Metals (NYSE:CMC)

Teacher Retirement System of Texas increased its position in shares of Commercial Metals (NYSE:CMC) by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after purchasing an additional 18,262 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Commercial Metals by 99.0% in the third quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company’s stock valued at $6,788,000 after buying an additional 61,447 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Commercial Metals by 37.8% during the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock valued at $2,143,000 after buying an additional 10,693 shares during the last quarter. Qsemble Capital Management LP increased its position in shares of Commercial Metals by 20.9% during the third quarter. Qsemble Capital Management LP now owns 8,973 shares of the basic materials company’s stock worth $493,000 after acquiring an additional 1,549 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Commercial Metals in the 3rd quarter worth about $342,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $48.36 on Friday. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The company’s 50-day moving average is $48.75 and its 200 day moving average is $52.68. 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 company has a market capitalization of $5.50 billion, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its earnings results 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. Commercial Metals’s dividend payout ratio is 120.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMC. 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 price objective for the company. UBS Group lowered their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley lowered their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. 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, Commercial Metals has an average rating of “Hold” and an average 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.