Strs Ohio Takes Position in Commercial Metals Company $CMC

Strs Ohio bought a new stake in Commercial Metals Company (NYSE:CMC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,600 shares of the basic materials company’s stock, valued at approximately $1,408,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CMC. Nuveen LLC purchased a new stake in shares of Commercial Metals in the first quarter valued at about $44,345,000. Pacer Advisors Inc. boosted its holdings in shares of Commercial Metals by 4,372.6% in the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock valued at $34,944,000 after acquiring an additional 742,503 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Commercial Metals by 86.1% in the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after purchasing an additional 734,265 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Commercial Metals by 27.5% in the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock valued at $142,139,000 after purchasing an additional 666,886 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Commercial Metals by 14.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock valued at $191,461,000 after purchasing an additional 539,309 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Commercial Metals stock opened at $58.48 on Thursday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The firm has a 50 day moving average price of $55.28 and a 200 day moving average price of $49.62. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 188.65, a PEG ratio of 2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Commercial Metals’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

CMC has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research note on Wednesday, June 25th. UBS Group raised their price objective on shares of Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals presently has an average rating of “Moderate Buy” and an average price target of $60.06.

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.