Retirement Systems of Alabama Has $7.68 Million Position in Commercial Metals (NYSE:CMC)

Retirement Systems of Alabama decreased its holdings in shares of Commercial Metals (NYSE:CMC) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 139,688 shares of the basic materials company’s stock after selling 3,125 shares during the period. Retirement Systems of Alabama’s holdings in Commercial Metals were worth $7,677,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CMC. Thompson Siegel & Walmsley LLC bought a new stake in shares of Commercial Metals during the second quarter worth about $50,132,000. Jacobs Levy Equity Management Inc. increased its holdings in Commercial Metals by 122.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after purchasing an additional 686,519 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Commercial Metals in the third quarter worth approximately $16,731,000. Van ECK Associates Corp lifted its stake in Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock valued at $21,570,000 after acquiring an additional 282,511 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Commercial Metals by 163.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock valued at $11,756,000 after purchasing an additional 136,367 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CMC. BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. Finally, UBS Group reaffirmed a “sell” rating and issued a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $65.40.

Commercial Metals Trading Down 3.7 %

Shares of CMC opened at $54.20 on Wednesday. The firm has a market cap of $6.18 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week 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. The business has a 50-day moving average of $58.00 and a 200 day moving average of $55.21.

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

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Commercial Metals 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.