Teacher Retirement System of Texas Lowers Stock Holdings in Commercial Metals Company (NYSE:CMC)

Teacher Retirement System of Texas cut its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 SEC filing.

Several other hedge funds have also recently bought and sold shares of CMC. Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after buying an additional 297 shares during the last quarter. M&T Bank Corp grew its stake in shares of Commercial Metals by 12.7% during the 4th quarter. M&T Bank Corp now owns 4,429 shares of the basic materials company's stock worth $219,000 after acquiring an additional 498 shares during the period. Raymond James Financial Inc. bought a new stake in Commercial Metals during the 4th quarter valued at $11,052,000. Amundi boosted its stake in Commercial Metals by 29.9% in the 4th quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after purchasing an additional 504 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Commercial Metals in the 4th quarter worth approximately $1,342,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE CMC traded down $0.89 during midday trading on Tuesday, reaching $50.94. The company had a trading volume of 907,409 shares, compared to its average volume of 997,631. The stock has a market cap of $5.70 billion, a P/E ratio of 164.32, a P/E/G ratio of 2.10 and a beta of 1.26. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The business's 50-day simple moving average is $48.84 and its 200 day simple moving average is $47.75. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. On average, analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. Commercial Metals's payout ratio is 232.26%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price target (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Finally, UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Friday, June 20th. Five investment 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.50.

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.