Public Employees Retirement System of Ohio Has $3.13 Million Stake in Commercial Metals (NYSE:CMC)

Public Employees Retirement System of Ohio lifted its position in shares of Commercial Metals (NYSE:CMC) by 191.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 56,990 shares of the basic materials company’s stock after purchasing an additional 37,433 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Commercial Metals were worth $3,132,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CMC. Thompson Siegel & Walmsley LLC bought a new stake in shares of Commercial Metals during the 2nd quarter valued at about $50,132,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of 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 buying an additional 686,519 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Commercial Metals during the 3rd quarter worth approximately $16,731,000. Van ECK Associates Corp increased its stake in shares of Commercial Metals by 204.3% in 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 2nd 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 acquiring an additional 136,367 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a research note 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 began coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. UBS Group reaffirmed a “sell” rating and set a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.40.

Commercial Metals Stock Down 1.6 %

Shares of NYSE:CMC opened at $56.28 on Tuesday. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.74 and a beta of 1.15. The business’s 50 day moving average is $57.97 and its 200 day moving average is $55.23. Commercial Metals has a 12-month low of $47.42 and a 12-month high of $64.53. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27.

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

Commercial Metals Dividend Announcement

The company 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 1.28%. Commercial Metals’s dividend payout ratio is currently 17.39%.

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.