Teacher Retirement System of Texas Has $1.76 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Teacher Retirement System of Texas lifted its position in shares of Commercial Metals (NYSE:CMC) by 44.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

A number of other institutional investors also recently modified their holdings of the business. Chesapeake Capital Corp IL acquired a new stake in Commercial Metals in the 4th quarter worth about $325,000. Xponance Inc. boosted its stake in shares of Commercial Metals by 3.2% in the fourth quarter. Xponance Inc. now owns 16,794 shares of the basic materials company’s stock valued at $833,000 after buying an additional 520 shares during the period. Boston Partners grew its position in Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after buying an additional 243,921 shares in the last quarter. Intech Investment Management LLC increased its stake in Commercial Metals by 42.5% during the 4th quarter. Intech Investment Management LLC now owns 51,850 shares of the basic materials company’s stock worth $2,572,000 after acquiring an additional 15,458 shares during the period. Finally, RD Lewis Holdings Inc. acquired a new position in Commercial Metals in the 4th quarter valued at $1,883,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 0.9 %

NYSE:CMC opened at $48.36 on Friday. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. 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 fifty day moving average is $48.75 and its 200-day moving average is $52.68. The firm has a market cap of $5.50 billion, a P/E ratio of 43.57, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced 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 analyst estimates of $1.73 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Morgan Stanley dropped 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 research report on Friday, March 7th. BMO Capital Markets decreased their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Commercial Metals presently has a consensus rating of “Hold” and a consensus target price of $60.33.

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.