Texas Permanent School Fund Increases Stock Position in Commercial Metals (NYSE:CMC)

Texas Permanent School Fund boosted its stake in shares of Commercial Metals (NYSE:CMC) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,157 shares of the basic materials company’s stock after buying an additional 893 shares during the quarter. Texas Permanent School Fund’s holdings in Commercial Metals were worth $1,807,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System lifted its position in shares of Commercial Metals by 2.0% during the fourth quarter. State of Michigan Retirement System now owns 34,900 shares of the basic materials company’s stock worth $777,000 after purchasing an additional 700 shares in the last quarter. World Asset Management Inc lifted its position in shares of Commercial Metals by 7.2% during the third quarter. World Asset Management Inc now owns 10,853 shares of the basic materials company’s stock worth $189,000 after purchasing an additional 730 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Commercial Metals by 1.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 81,828 shares of the basic materials company’s stock worth $1,822,000 after purchasing an additional 1,053 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Commercial Metals by 0.8% during the fourth quarter. Retirement Systems of Alabama now owns 154,503 shares of the basic materials company’s stock worth $3,441,000 after purchasing an additional 1,212 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in shares of Commercial Metals by 4.4% during the third quarter. State of Tennessee Treasury Department now owns 35,379 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 1,484 shares in the last quarter. 89.63% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the stock. Exane BNP Paribas assumed coverage on shares of Commercial Metals in a research report on Thursday, November 14th. They set an “outperform” rating on the stock. Deutsche Bank raised shares of Commercial Metals from a “hold” rating to a “buy” rating and increased their price target for the stock from $18.50 to $25.00 in a research report on Tuesday, November 26th. ValuEngine cut shares of Commercial Metals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Bank of America raised their target price on shares of Commercial Metals from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets initiated coverage on shares of Commercial Metals in a report on Tuesday, November 26th. They issued a “market perform” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.61.

NYSE:CMC traded down $0.31 during mid-day trading on Friday, hitting $20.82. The stock had a trading volume of 18,468 shares, compared to its average volume of 2,100,320. The stock has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $19.46. The company has a market capitalization of $2.49 billion, a PE ratio of 9.45, a PEG ratio of 2.25 and a beta of 1.77. Commercial Metals has a twelve month low of $13.27 and a twelve month high of $24.04. The company has a current ratio of 3.35, a quick ratio of 2.27 and a debt-to-equity ratio of 0.69.

Commercial Metals (NYSE:CMC) last issued its earnings results on Monday, January 6th. The basic materials company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.19. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Commercial Metals had a net margin of 4.41% and a return on equity of 18.40%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Sell-side analysts predict that Commercial Metals will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Wednesday, January 15th were issued a $0.12 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $0.48 annualized dividend and a yield of 2.31%. Commercial Metals’s dividend payout ratio (DPR) is 23.08%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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