Trexquant Investment LP Decreases Holdings in Commercial Metals Company $CMC

Key Points

• Trexquant Investment LP has significantly reduced its holdings in Commercial Metals Company, selling 257,611 shares, which represents a 66.3% decrease in their stake during the 1st quarter.
• Commercial Metals reported earnings of $0.74 per share, missing analysts' expectations of $0.85, and experienced a 2.8% decline in quarterly revenue compared to the previous year.
• The company recently announced a $0.18 quarterly dividend, translating to an annualized yield of 1.2%, although its dividend payout ratio stands at an unusually high 232.26%.

Trexquant Investment LP decreased its position in Commercial Metals Company (NYSE:CMC - Free Report) by 66.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,797 shares of the basic materials company's stock after selling 257,611 shares during the period. Trexquant Investment LP owned 0.12% of Commercial Metals worth $6,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Commercial Metals by 12.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock worth $1,189,000 after purchasing an additional 2,846 shares during the period. GAMMA Investing LLC boosted its stake in shares of Commercial Metals by 25.6% during the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after acquiring an additional 669 shares during the period. SG Americas Securities LLC lifted its holdings in Commercial Metals by 460.1% during the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock worth $570,000 after purchasing an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Commercial Metals by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock worth $612,000 after purchasing an additional 325 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Commercial Metals by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 385,527 shares of the basic materials company's stock valued at $17,738,000 after acquiring an additional 22,682 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research note on Wednesday, June 25th. UBS Group increased their price objective on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Commercial Metals from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.81.

Commercial Metals Stock Up 1.8%

Commercial Metals stock traded up $1.02 during trading hours on Friday, hitting $59.21. 957,817 shares of the stock traded hands, compared to its average volume of 848,895. The firm's 50-day moving average price is $54.13 and its two-hundred day moving average price is $49.12. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The company has a market cap of $6.63 billion, a PE ratio of 191.00, a PEG ratio of 1.79 and a beta of 1.33. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, research analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

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.