Ontario Teachers Pension Plan Board Lowers Holdings in Commercial Metals (NYSE:CMC)

Ontario Teachers Pension Plan Board decreased its holdings in Commercial Metals (NYSE:CMC) by 52.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,559 shares of the basic materials company’s stock after selling 57,448 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Commercial Metals were worth $2,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMC. HM Payson & Co. acquired a new stake in Commercial Metals during the third quarter worth approximately $25,000. Daiwa Securities Group Inc. acquired a new stake in Commercial Metals during the fourth quarter worth approximately $30,000. Headlands Technologies LLC acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $51,000. Planned Solutions Inc. acquired a new position in shares of Commercial Metals in the 4th quarter valued at $73,000. Finally, GAMMA Investing LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at $74,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the transaction, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Commercial Metals Stock Performance

CMC traded down $0.37 during trading on Thursday, hitting $55.78. The stock had a trading volume of 166,776 shares, compared to its average volume of 913,651. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The firm has a market capitalization of $6.45 billion, a P/E ratio of 9.77 and a beta of 1.35. The company’s 50-day moving average price is $56.39 and its 200 day moving average price is $52.07. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $59.81.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. Commercial Metals’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, equities research analysts forecast that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. Commercial Metals’s payout ratio is currently 12.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CMC shares. BMO Capital Markets lifted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. StockNews.com raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th.

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.