Ontario Teachers Pension Plan Board Raises Position in Commercial Metals (NYSE:CMC)

Ontario Teachers Pension Plan Board lifted its stake in Commercial Metals (NYSE:CMC) by 229.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,829 shares of the basic materials company’s stock after purchasing an additional 15,901 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Commercial Metals were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Commercial Metals by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after buying an additional 66,092 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Commercial Metals by 66.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after acquiring an additional 28,297 shares during the period. Covea Finance lifted its holdings in Commercial Metals by 44.2% during the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after purchasing an additional 19,000 shares in the last quarter. Finally, Spring Capital Management LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $248,000. 86.90% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the purchase, the director now directly owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Commercial Metals Stock Down 0.4 %

Shares of NYSE CMC opened at $41.70 on Wednesday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.71 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The stock’s fifty day simple moving average is $46.71 and its two-hundred day simple moving average is $51.71.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CMC shares. BMO Capital Markets lowered 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 note on Friday, March 21st. Jefferies Financial Group lowered their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley cut their target price on 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. UBS Group lowered their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.