Healthcare of Ontario Pension Plan Trust Fund Takes $8.98 Million Position in Commercial Metals (NYSE:CMC)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Commercial Metals (NYSE:CMC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 437,300 shares of the basic materials company’s stock, valued at approximately $8,982,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.36% of Commercial Metals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMC. Fuller & Thaler Asset Management Inc. raised its position in shares of Commercial Metals by 33.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,616,363 shares of the basic materials company’s stock valued at $74,280,000 after purchasing an additional 910,332 shares during the period. BlackRock Inc. grew its position in shares of Commercial Metals by 5.5% during the fourth quarter. BlackRock Inc. now owns 13,925,996 shares of the basic materials company’s stock worth $286,041,000 after purchasing an additional 721,083 shares in the last quarter. Janus Henderson Group PLC raised its stake in Commercial Metals by 28.9% during the 4th quarter. Janus Henderson Group PLC now owns 2,969,241 shares of the basic materials company’s stock valued at $60,988,000 after purchasing an additional 665,514 shares during the period. Hennessy Advisors Inc. bought a new position in Commercial Metals in the 4th quarter worth approximately $10,482,000. Finally, Renaissance Technologies LLC raised its position in shares of Commercial Metals by 272.1% during the fourth quarter. Renaissance Technologies LLC now owns 628,800 shares of the basic materials company’s stock valued at $12,916,000 after buying an additional 459,806 shares during the last quarter. Institutional investors and hedge funds own 84.15% of the company’s stock.

In other news, CEO Barbara Smith sold 19,900 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $26.98, for a total transaction of $536,902.00. Following the transaction, the chief executive officer now owns 664,073 shares of the company’s stock, valued at approximately $17,916,689.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Tracy L. Porter sold 37,381 shares of the firm’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $28.37, for a total value of $1,060,498.97. Following the transaction, the chief operating officer now owns 10 shares in the company, valued at approximately $283.70. The disclosure for this sale can be found here. In the last three months, insiders sold 145,577 shares of company stock worth $4,178,082. 1.40% of the stock is owned by insiders.

CMC has been the subject of several research analyst reports. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $23.00 target price for the company in a research note on Monday, February 15th. BMO Capital Markets boosted their target price on Commercial Metals from $23.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, March 19th. Deutsche Bank Aktiengesellschaft cut Commercial Metals from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Friday, January 8th. Bank of America downgraded Commercial Metals from a “neutral” rating to an “underperform” rating and set a $21.00 target price for the company. in a research report on Tuesday, January 12th. Finally, Smith Barney Citigroup boosted their price target on shares of Commercial Metals from $21.00 to $22.00 in a research report on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Commercial Metals has a consensus rating of “Hold” and an average target price of $23.56.

CMC opened at $31.12 on Thursday. The company has a quick ratio of 2.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $28.18 and a 200 day moving average of $22.72. Commercial Metals has a 52-week low of $13.72 and a 52-week high of $32.43. The stock has a market cap of $3.75 billion, a P/E ratio of 14.41, a PEG ratio of 3.60 and a beta of 1.24.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Wednesday, March 17th. The basic materials company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Commercial Metals had a net margin of 4.75% and a return on equity of 16.20%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities analysts anticipate that Commercial Metals will post 1.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. Commercial Metals’s payout ratio is 18.18%.

About Commercial Metals

Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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