Teacher Retirement System of Texas Has $1.11 Million Stock Holdings in Commercial Metals Company (NYSE:CMC)

Teacher Retirement System of Texas decreased its holdings in Commercial Metals Company (NYSE:CMC - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,050 shares of the basic materials company's stock after selling 11,515 shares during the quarter. Teacher Retirement System of Texas' holdings in Commercial Metals were worth $1,107,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Ameritas Advisory Services LLC raised its stake in Commercial Metals by 34.7% during the first quarter. Ameritas Advisory Services LLC now owns 7,496 shares of the basic materials company's stock valued at $346,000 after buying an additional 1,929 shares in the last quarter. Verity Asset Management Inc. grew its holdings in Commercial Metals by 3.7% in the 1st quarter. Verity Asset Management Inc. now owns 37,880 shares of the basic materials company's stock worth $1,743,000 after buying an additional 1,335 shares in the last quarter. Crescent Grove Advisors LLC bought a new position in Commercial Metals in the 1st quarter worth approximately $277,000. Allspring Global Investments Holdings LLC boosted its stake in Commercial Metals by 12.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 266,489 shares of the basic materials company's stock valued at $12,520,000 after purchasing an additional 29,505 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in Commercial Metals by 23.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 64,568 shares of the basic materials company's stock valued at $2,971,000 after purchasing an additional 12,369 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Price Performance

Shares of NYSE:CMC traded up $1.35 during trading on Thursday, reaching $52.59. The stock had a trading volume of 875,262 shares, compared to its average volume of 995,624. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The business's 50-day moving average price is $49.33 and its 200 day moving average price is $47.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. The stock has a market capitalization of $5.89 billion, a PE ratio of 169.63, a P/E/G ratio of 2.08 and a beta of 1.26.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is currently 232.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their price objective on Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday. BMO Capital Markets reissued a "market perform" rating and set a $55.00 target price (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Morgan Stanley set a $57.50 price target on Commercial Metals in a research report on Wednesday, June 25th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $57.50.

About Commercial Metals

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.