Teacher Retirement System of Texas raised its position in shares of Commercial Metals Co. (NYSE:CMC) by 13.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,252 shares of the company’s stock after buying an additional 1,973 shares during the period. Teacher Retirement System of Texas’ holdings in Commercial Metals were worth $275,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CMC. LS Investment Advisors LLC raised its stake in shares of Commercial Metals by 68.9% in the second quarter. LS Investment Advisors LLC now owns 6,859 shares of the company’s stock worth $116,000 after buying an additional 2,798 shares during the period. Springbok Capital Management LLC raised its stake 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 bought a new stake in Commercial Metals during the first quarter valued at about $205,000. Eqis Capital Management Inc. bought a new stake in Commercial Metals during the second quarter valued at about $206,000. Finally, Neuberger Berman Group LLC bought a new stake in Commercial Metals during the second quarter valued at about $286,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
Commercial Metals Co. (NYSE:CMC) opened at 15.28 on Friday. The stock has a 50 day moving average price of $15.68 and a 200 day moving average price of $16.66. Commercial Metals Co. has a 52-week low of $12.44 and a 52-week high of $18.50. The firm has a market cap of $1.75 billion, a P/E ratio of 13.88 and a beta of 1.48.
Several analysts recently issued reports on the company. Credit Suisse Group AG set a $15.00 target price on Commercial Metals and gave the stock a “hold” rating in a report on Saturday, October 8th. Zacks Investment Research upgraded Commercial Metals from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Clarkson Capital lowered Commercial Metals from a “neutral” rating to a “sell” rating in a report on Monday, June 27th. Citigroup Inc. assumed coverage on Commercial Metals in a report on Monday, August 22nd. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating and set a $16.50 target price on shares of Commercial Metals in a report on Friday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.69.
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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