Schroder Investment Management Group lowered its stake in Commercial Metals Co. (NYSE:CMC) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,321 shares of the company’s stock after selling 28,792 shares during the period. Schroder Investment Management Group owned 0.06% of Commercial Metals worth $1,087,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its position in Commercial Metals by 68.9% in the second quarter. LS Investment Advisors LLC now owns 6,859 shares of the company’s stock valued at $116,000 after buying an additional 2,798 shares during the last quarter. Springbok Capital Management LLC boosted its position in Commercial Metals by 710.0% in the first quarter. Springbok Capital Management LLC now owns 8,100 shares of the company’s stock valued at $137,000 after buying an additional 7,100 shares during the last quarter. Invictus RG acquired a new position in Commercial Metals during the first quarter valued at about $205,000. Eqis Capital Management Inc. acquired a new position in Commercial Metals during the second quarter valued at about $206,000. Finally, Neuberger Berman Group LLC acquired a new position in Commercial Metals during the second quarter valued at about $286,000. 93.28% of the stock is owned by hedge funds and other institutional investors.
Commercial Metals Co. (NYSE:CMC) traded down 0.80% during mid-day trading on Friday, reaching $16.15. The company had a trading volume of 1,317,540 shares. The firm has a market capitalization of $1.85 billion, a P/E ratio of 14.67 and a beta of 1.59. Commercial Metals Co. has a 12 month low of $12.44 and a 12 month high of $18.50. The stock’s 50-day moving average is $15.82 and its 200 day moving average is $16.73.
CMC has been the subject of several research analyst reports. Jefferies Group reiterated a “buy” rating on shares of Commercial Metals in a research report on Saturday, June 4th. Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, May 30th. Citigroup Inc. started coverage on Commercial Metals in a research report on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price objective for the company. Bank of America Corp. cut Commercial Metals to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Clarkson Capital cut Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Commercial Metals currently has a consensus rating of “Hold” and an average price target of $16.69.
In related news, Director Anthony A. Massaro sold 2,367 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $16.36, for a total transaction of $38,724.12. Following the completion of the transaction, the director now owns 69,252 shares in the company, valued at approximately $1,132,962.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
About Commercial Metals
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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