Trexquant Investment LP Has $19.27 Million Stock Holdings in Commercial Metals (NYSE:CMC)

Trexquant Investment LP raised its position in shares of Commercial Metals (NYSE:CMC) by 130.3% in the 4th quarter, Holdings Channel reports. The firm owned 388,408 shares of the basic materials company’s stock after acquiring an additional 219,745 shares during the period. Trexquant Investment LP’s holdings in Commercial Metals were worth $19,265,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Commercial Metals in the 4th quarter valued at $69,261,000. Franklin Resources Inc. boosted its stake in Commercial Metals by 87.0% in the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after buying an additional 893,094 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after acquiring an additional 686,519 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Commercial Metals by 45.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company’s stock worth $78,185,000 after acquiring an additional 495,163 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Commercial Metals during the third quarter worth about $16,731,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Down 0.4 %

Shares of NYSE:CMC opened at $46.01 on Tuesday. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The business has a fifty day simple moving average of $48.57 and a 200 day simple moving average of $52.68. The firm has a market cap of $5.20 billion, a P/E ratio of 41.45, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. Commercial Metals’s payout ratio is presently 120.00%.

Analyst Ratings Changes

CMC has been the topic of several research reports. UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley decreased their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets dropped their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and a consensus price target of $60.33.

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.