Trexquant Investment LP Has $3.99 Million Holdings in Commercial Metals (NYSE:CMC)

Trexquant Investment LP boosted its position in shares of Commercial Metals (NYSE:CMC) by 86.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,795 shares of the basic materials company’s stock after purchasing an additional 36,985 shares during the period. Trexquant Investment LP owned about 0.07% of Commercial Metals worth $3,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Commercial Metals by 93.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 30,198 shares of the basic materials company’s stock valued at $1,492,000 after acquiring an additional 14,549 shares in the last quarter. NBC Securities Inc. bought a new stake in Commercial Metals during the 3rd quarter worth about $349,000. Los Angeles Capital Management LLC boosted its stake in shares of Commercial Metals by 1.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 61,325 shares of the basic materials company’s stock worth $3,030,000 after buying an additional 1,084 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Commercial Metals by 742.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 334,026 shares of the basic materials company’s stock valued at $16,504,000 after acquiring an additional 294,383 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Commercial Metals in the third quarter valued at $504,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at Commercial Metals

In related news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Commercial Metals Price Performance

Commercial Metals stock opened at $55.82 on Friday. The stock’s fifty day moving average price is $56.44 and its two-hundred day moving average price is $52.09. The firm has a market cap of $6.46 billion, a PE ratio of 9.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.29%. Commercial Metals’s dividend payout ratio is presently 12.50%.

Analyst Upgrades and Downgrades

CMC has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. StockNews.com upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research 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.