Systematic Financial Management LP lowered its holdings in Commercial Metals Company (NYSE:CMC) by 31.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,143 shares of the basic materials company’s stock after selling 578,434 shares during the period. Systematic Financial Management LP owned about 1.06% of Commercial Metals worth $23,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CMC. Capstone Asset Management Co. grew its position in Commercial Metals by 3.2% in the first quarter. Capstone Asset Management Co. now owns 14,042 shares of the basic materials company’s stock valued at $269,000 after purchasing an additional 440 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Commercial Metals by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 29,200 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 600 shares in the last quarter. Glen Harbor Capital Management LLC grew its position in 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 valued at $162,000 after purchasing an additional 1,020 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Commercial Metals by 3.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 40,719 shares of the basic materials company’s stock valued at $779,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Commercial Metals by 28.0% in the first quarter. Wells Fargo & Company MN now owns 188,133 shares of the basic materials company’s stock valued at $3,600,000 after purchasing an additional 41,210 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have commented on CMC shares. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, May 24th. Bank of America Corporation cut shares of Commercial Metals from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $19.00 in a research note on Thursday, June 8th. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the company from $21.00 to $22.00 in a research note on Tuesday, June 13th. BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.22.

Commercial Metals Company (CMC) traded down 0.76% during mid-day trading on Friday, hitting $18.40. 255,894 shares of the stock were exchanged. The company has a market capitalization of $2.13 billion, a PE ratio of 28.44 and a beta of 1.22. The stock’s 50-day moving average is $18.61 and its 200 day moving average is $18.87. Commercial Metals Company has a 52 week low of $14.57 and a 52 week high of $24.64.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, analysts anticipate that Commercial Metals Company will post $0.90 EPS for the current year.

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.

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

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