Teachers Retirement System of The State of Kentucky Has $4.08 Million Stock Position in Commercial Metals (NYSE:CMC)

Teachers Retirement System of The State of Kentucky boosted its position in Commercial Metals (NYSE:CMC) by 13.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 74,287 shares of the basic materials company’s stock after acquiring an additional 9,081 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Commercial Metals were worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CMC. Coldstream Capital Management Inc. grew its position in shares of Commercial Metals by 8.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,092 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 415 shares during the last quarter. Geode Capital Management LLC grew its holdings in Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after buying an additional 28,019 shares during the last quarter. Vestcor Inc increased its position in Commercial Metals by 108.0% in the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after buying an additional 9,400 shares during the period. Barclays PLC lifted its holdings in shares of Commercial Metals by 67.5% during the third quarter. Barclays PLC now owns 210,769 shares of the basic materials company’s stock worth $11,584,000 after buying an additional 84,905 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Commercial Metals by 191.4% in the third quarter. Public Employees Retirement System of Ohio now owns 56,990 shares of the basic materials company’s stock valued at $3,132,000 after acquiring an additional 37,433 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMC. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. UBS Group restated a “sell” rating and set a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.40.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $57.23 on Friday. The firm has a market cap of $6.53 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The firm’s 50-day simple moving average is $57.90 and its 200-day simple moving average is $55.22. Commercial Metals has a twelve month low of $47.27 and a twelve month high of $64.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, research analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is 17.39%.

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.