Verity Asset Management Inc. boosted its holdings in shares of Commercial Metals Company (NYSE:CMC) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,631 shares of the basic materials company’s stock after purchasing an additional 1,421 shares during the quarter. Verity Asset Management Inc.’s holdings in Commercial Metals were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CMC. BlackRock Inc. boosted its position in Commercial Metals by 17,672.9% during the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock worth $278,663,000 after purchasing an additional 14,484,894 shares in the last quarter. Systematic Financial Management LP boosted its position in Commercial Metals by 2,256.4% during the first quarter. Systematic Financial Management LP now owns 1,810,577 shares of the basic materials company’s stock worth $34,636,000 after purchasing an additional 1,733,742 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Commercial Metals by 43.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,986,048 shares of the basic materials company’s stock worth $76,253,000 after purchasing an additional 1,201,973 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Commercial Metals by 167.7% during the second quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock worth $36,922,000 after purchasing an additional 1,190,364 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Commercial Metals by 322.3% during the second quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock worth $20,277,000 after purchasing an additional 796,477 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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Commercial Metals Company (NYSE CMC) traded up 2.79% during trading on Friday, hitting $18.06. The stock had a trading volume of 3,317,560 shares. Commercial Metals Company has a 12-month low of $14.99 and a 12-month high of $24.64. The firm has a market cap of $2.09 billion, a P/E ratio of 27.91 and a beta of 1.22. The stock’s 50 day moving average price is $18.28 and its 200 day moving average price is $18.75.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, analysts anticipate that Commercial Metals Company will post $0.89 EPS for the current fiscal year.

CMC has been the topic of a number of recent analyst reports. Macquarie initiated coverage on Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target on the stock. Bank of America Corporation reiterated a “neutral” rating and set a $20.00 price target (up previously from $19.00) on shares of Commercial Metals in a research report on Sunday, June 25th. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “strong sell” rating in a research report on Monday, September 4th. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.11.

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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