Nisa Investment Advisors LLC increased its stake in shares of Commercial Metals Co. (NYSE:CMC) by 85.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,950 shares of the company’s stock after buying an additional 8,750 shares during the period. Nisa Investment Advisors LLC’s holdings in Commercial Metals were worth $320,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CMC. Springbok Capital Management LLC boosted its position in shares of 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 period. Invictus RG bought a new position in shares of Commercial Metals during the first quarter valued at $205,000. Eqis Capital Management Inc. bought a new position in shares of Commercial Metals during the second quarter valued at $206,000. Acrospire Investment Management LLC bought a new position in shares of Commercial Metals during the first quarter valued at $287,000. Finally, Magnetar Financial LLC boosted its position in shares of Commercial Metals by 116.7% in the first quarter. Magnetar Financial LLC now owns 28,531 shares of the company’s stock valued at $484,000 after buying an additional 15,367 shares during the period. Institutional investors own 93.28% of the company’s stock.
Commercial Metals Co. (NYSE:CMC) traded down 0.80% during trading on Friday, hitting $16.15. The stock had a trading volume of 1,317,540 shares. The firm has a market cap of $1.85 billion, a P/E ratio of 14.67 and a beta of 1.59. The company has a 50-day moving average of $15.82 and a 200 day moving average of $16.73. Commercial Metals Co. has a 52-week low of $12.44 and a 52-week high of $18.50.
Several equities analysts have recently weighed in on the company. Jefferies Group reiterated a “buy” rating on shares of Commercial Metals in a research report on Saturday, June 4th. Bank of America Corp. cut Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research report on Thursday, June 2nd. Zacks Investment Research upgraded Commercial Metals from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Clarkson Capital cut Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Finally, Citigroup Inc. assumed coverage on Commercial Metals in a research report on Monday, August 22nd. They set a “neutral” rating and a $16.00 target price for the company. Two investment 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. The company currently has a consensus rating of “Hold” and a consensus price target of $16.69.
In other news, Director Anthony A. Massaro sold 2,367 shares of the stock in a transaction 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 transaction, the director now directly owns 69,252 shares of the company’s stock, valued at approximately $1,132,962.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.
Commercial Metals Company Profile
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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