Trexquant Investment LP Buys 219,745 Shares of Commercial Metals (NYSE:CMC)

Trexquant Investment LP increased its stake in shares of Commercial Metals (NYSE:CMC) by 130.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 388,408 shares of the basic materials company’s stock after acquiring an additional 219,745 shares during the period. Trexquant Investment LP owned about 0.34% of Commercial Metals worth $19,265,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Cerity Partners LLC grew its stake in shares of Commercial Metals by 37.8% in the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock valued at $2,143,000 after buying an additional 10,693 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Commercial Metals in the third quarter valued at $342,000. BNP Paribas Financial Markets grew its position in shares of Commercial Metals by 18.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,772 shares of the basic materials company’s stock valued at $1,636,000 after acquiring an additional 4,699 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Commercial Metals by 3.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 30,689 shares of the basic materials company’s stock worth $1,687,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Commercial Metals by 8.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,710 shares of the basic materials company’s stock valued at $1,633,000 after purchasing an additional 2,285 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Price Performance

NYSE:CMC opened at $46.01 on Tuesday. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm’s 50-day simple moving average is $48.57 and its 200 day simple moving average is $52.68. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 41.45, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced 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). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. 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 120.00%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CMC shares. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. BMO Capital Markets reduced their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Finally, The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and a consensus price target of $60.33.

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.