Nisa Investment Advisors LLC maintained its stake in Commercial Metals Company (NYSE:CMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,100 shares of the basic materials company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Commercial Metals were worth $340,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CMC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock valued at $102,000 after buying an additional 2,142 shares in the last quarter. Elkfork Partners LLC increased its position in shares of Commercial Metals by 13.6% in the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock worth $105,000 after buying an additional 660 shares during the period. Point72 Asia Hong Kong Ltd increased its position in shares of Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock worth $126,000 after buying an additional 5,182 shares during the period. Meadow Creek Investment Management LLC increased its position in shares of Commercial Metals by 13.6% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock worth $134,000 after buying an additional 840 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in shares of Commercial Metals by 13.6% in the first quarter. Glen Harbor Capital Management LLC now owns 8,500 shares of the basic materials company’s stock worth $162,000 after buying an additional 1,020 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Company (NYSE:CMC) traded down 1.39% during midday trading on Friday, hitting $18.39. The company had a trading volume of 978,667 shares. Commercial Metals Company has a 12-month low of $14.58 and a 12-month high of $24.64. The company’s 50 day moving average is $19.33 and its 200 day moving average is $19.33. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 28.42 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Commercial Metals Company will post $0.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, July 3rd. This represents a $0.48 annualized dividend and a yield of 2.61%. Commercial Metals’s payout ratio is 73.85%.

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CMC has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $19.00 target price on shares of Commercial Metals in a research note on Wednesday, May 24th. Bank of America Corporation downgraded Commercial Metals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $19.00 in a research note on Thursday, June 8th. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Citigroup Inc. raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, June 13th. Finally, BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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