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

Ontario Teachers Pension Plan Board increased its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 229.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,829 shares of the basic materials company's stock after buying an additional 15,901 shares during the quarter. 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 large investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in Commercial Metals in the fourth quarter valued at $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after buying an additional 267 shares during the period. Jones Financial Companies Lllp lifted its position in Commercial Metals by 22.0% in 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. New Age Alpha Advisors LLC purchased a new position in Commercial Metals during the fourth quarter worth about $105,000. Finally, Covestor Ltd increased its position in shares of Commercial Metals by 19.0% during the fourth quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock valued at $107,000 after acquiring an additional 343 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. BMO Capital Markets cut their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Morgan Stanley dropped 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. Finally, UBS Group reduced their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Commercial Metals has a consensus rating of "Hold" and a consensus price target of $60.33.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Commercial Metals Stock Down 1.9 %

CMC stock traded down $0.82 during mid-day trading on Monday, reaching $41.51. The company had a trading volume of 76,986 shares, compared to its average volume of 950,546. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a fifty day simple moving average of $46.23 and a 200 day simple moving average of $51.45.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data 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 during 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 for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. Analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.73%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Commercial Metals Company 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.