Commercial Metals (NYSE:CMC) Shares Purchased by Wells Fargo & Company MN

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Wells Fargo & Company MN boosted its holdings in Commercial Metals (NYSE:CMC) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,970 shares of the basic materials company’s stock after purchasing an additional 4,936 shares during the quarter. Wells Fargo & Company MN owned approximately 0.47% of Commercial Metals worth $9,888,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its holdings in Commercial Metals by 286.2% in the second quarter. GSA Capital Partners LLP now owns 134,908 shares of the basic materials company’s stock worth $2,408,000 after purchasing an additional 99,978 shares during the period. Mid Atlantic Financial Management Inc. ADV acquired a new position in Commercial Metals in the second quarter worth $279,000. John G Ullman & Associates Inc. acquired a new position in Commercial Metals in the second quarter worth $237,000. Swiss National Bank boosted its holdings in Commercial Metals by 2.1% in the second quarter. Swiss National Bank now owns 218,900 shares of the basic materials company’s stock worth $3,907,000 after purchasing an additional 4,500 shares during the period. Finally, Comerica Bank boosted its holdings in Commercial Metals by 4.2% in the second quarter. Comerica Bank now owns 157,733 shares of the basic materials company’s stock worth $2,834,000 after purchasing an additional 6,292 shares during the period. 94.92% of the stock is owned by hedge funds and other institutional investors.

CMC traded up $0.28 on Thursday, reaching $18.80. 27,497 shares of the company traded hands, compared to its average volume of 1,457,225. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.00 and a quick ratio of 1.86. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.12 and a beta of 1.74. The stock’s 50 day moving average price is $16.34 and its 200-day moving average price is $16.55. Commercial Metals has a 52-week low of $13.27 and a 52-week high of $21.90.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 20th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The company’s revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, equities research analysts forecast that Commercial Metals will post 2.02 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on CMC shares. Citigroup set a $16.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a report on Tuesday, June 11th. TheStreet upgraded shares of Commercial Metals from a “c+” rating to a “b” rating in a research note on Tuesday, July 16th. ValuEngine upgraded shares of Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 21st. Bank of America restated an “underperform” rating and set a $18.00 price objective on shares of Commercial Metals in a research note on Friday, May 31st. Finally, Deutsche Bank cut shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Thursday, July 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.10.

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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