Retirement Systems of Alabama Increases Position in Commercial Metals (NYSE:CMC)

Retirement Systems of Alabama lifted its position in shares of Commercial Metals (NYSE:CMC) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 153,126 shares of the basic materials company’s stock after acquiring an additional 617 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Commercial Metals worth $2,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in Commercial Metals by 1,502.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 739,003 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 692,873 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Commercial Metals in the 4th quarter worth approximately $47,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Commercial Metals in the 4th quarter worth approximately $48,000. Macquarie Group Ltd. bought a new stake in shares of Commercial Metals in the 4th quarter worth approximately $100,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Commercial Metals in the 4th quarter worth approximately $107,000. Institutional investors own 88.90% of the company’s stock.

Commercial Metals stock traded down $0.42 during mid-day trading on Wednesday, hitting $14.88. The company had a trading volume of 1,212,844 shares, compared to its average volume of 1,466,049. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. Commercial Metals has a 12 month low of $14.65 and a 12 month high of $24.95. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, equities research analysts predict that Commercial Metals will post 1.9 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. ValuEngine lowered Commercial Metals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 14th. Macquarie upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $15.23 to $17.37 in a research report on Friday, March 22nd. Finally, Cowen restated a “market perform” rating and set a $18.50 price target (up from $17.00) on shares of Commercial Metals in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Commercial Metals presently has a consensus rating of “Hold” and a consensus target price of $20.23.

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About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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