New York State Teachers Retirement System Sells 32,367 Shares of Commercial Metals (NYSE:CMC)

New York State Teachers Retirement System decreased its holdings in shares of Commercial Metals (NYSE:CMC) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,247 shares of the basic materials company’s stock after selling 32,367 shares during the period. New York State Teachers Retirement System owned about 0.10% of Commercial Metals worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Heck Capital Advisors LLC bought a new position in Commercial Metals in the 4th quarter worth $34,000. V Square Quantitative Management LLC grew its holdings in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. GAMMA Investing LLC grew its holdings in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Commercial Metals by 10.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 254 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Commercial Metals in the 4th quarter worth about $134,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

NYSE:CMC opened at $50.86 on Friday. The company’s 50-day moving average price is $50.33 and its 200-day moving average price is $53.68. 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 company has a market cap of $5.78 billion, a P/E ratio of 45.82, a P/E/G ratio of 2.73 and a beta of 1.18. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 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 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.49 earnings per share. On average, sell-side analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is presently 64.86%.

Analysts Set New Price Targets

CMC has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets decreased their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Finally, Morgan Stanley dropped their price target on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Commercial Metals presently has a consensus rating of “Hold” and a consensus price target of $62.33.

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.