Tower Research Capital LLC TRC raised its stake in shares of Commercial Metals Co. (NYSE:CMC) by 2,726.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,620 shares of the company’s stock after buying an additional 16,032 shares during the period. Tower Research Capital LLC TRC’s holdings in Commercial Metals were worth $281,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Commercial Metals during the fourth quarter valued at approximately $20,969,000. Acadian Asset Management LLC increased its position in Commercial Metals by 1,248,857.1% in the first quarter. Acadian Asset Management LLC now owns 437,135 shares of the company’s stock valued at $7,420,000 after buying an additional 437,100 shares during the period. First Manhattan Co. increased its position in Commercial Metals by 0.7% in the first quarter. First Manhattan Co. now owns 552,357 shares of the company’s stock valued at $9,373,000 after buying an additional 3,800 shares during the period. Virginia Retirement System acquired a new position in Commercial Metals during the first quarter valued at approximately $964,000. Finally, Prudential Financial Inc. increased its position in Commercial Metals by 0.8% in the first quarter. Prudential Financial Inc. now owns 122,432 shares of the company’s stock valued at $2,078,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 93.28% of the company’s stock.

Commercial Metals Co. (NYSE:CMC) opened at 16.03 on Thursday. The company has a market cap of $1.84 billion, a PE ratio of 14.56 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 has a 50 day moving average of $15.85 and a 200-day moving average of $16.73.

CMC has been the topic of several research reports. Zacks Investment Research upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Monday, May 30th. Bank of America Corp. cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price objective for the company. in a research report on Thursday, June 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Commercial Metals in a research report on Saturday, June 4th. Clarkson Capital cut shares of Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Finally, Citigroup Inc. began coverage on shares of Commercial Metals in a research report on Monday, August 22nd. They set a “neutral” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.69.

In related news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $16.36, for a total value of $38,724.12. Following the sale, the director now directly owns 69,252 shares of the company’s stock, valued at $1,132,962.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.

5 Day Chart for NYSE:CMC

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