Federated Investors Inc. PA raised its position in shares of Commercial Metals Company (NYSE:CMC) by 27.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 959,660 shares of the basic materials company’s stock after buying an additional 207,924 shares during the period. Federated Investors Inc. PA owned 0.83% of Commercial Metals worth $18,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 worth $102,000 after buying an additional 2,142 shares in the last quarter. Elkfork Partners LLC boosted 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 in the last quarter. Point72 Asia Hong Kong Ltd boosted 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 in the last quarter. Meadow Creek Investment Management LLC boosted 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 in the last quarter. Finally, Glen Harbor Capital Management LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.

Commercial Metals Company (NYSE CMC) opened at 17.70 on Friday. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 27.36 and a beta of 1.22. The company’s 50 day moving average is $18.89 and its 200-day moving average is $19.09. Commercial Metals Company has a 52-week low of $14.57 and a 52-week high of $24.64.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.11. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. Commercial Metals’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities analysts anticipate that Commercial Metals Company will post $0.90 EPS for the current fiscal year.

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A number of brokerages have recently issued reports on CMC. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $22.00 in a report on Tuesday, June 13th. BidaskClub raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Bank of America Corporation lowered shares of Commercial Metals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $19.00 in a research report on Thursday, June 8th. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a research report on Wednesday, May 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Commercial Metals presently has a consensus rating of “Hold” and an average target price of $21.75.

Commercial Metals Company Profile

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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