State of Wisconsin Investment Board cut its stake in shares of Commercial Metals Company (NYSE:CMC) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,600 shares of the basic materials company’s stock after selling 27,400 shares during the period. State of Wisconsin Investment Board owned about 0.28% of Commercial Metals worth $6,268,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CMC. Teachers Advisors LLC boosted its position in Commercial Metals by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 239,544 shares of the basic materials company’s stock valued at $5,217,000 after buying an additional 9,267 shares in the last quarter. Capstone Asset Management Co. boosted 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 buying an additional 440 shares in the last quarter. Louisiana State Employees Retirement System boosted 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 buying an additional 600 shares in the last quarter. Sit Investment Associates Inc. boosted its position in Commercial Metals by 431.4% in the first quarter. Sit Investment Associates Inc. now owns 13,550 shares of the basic materials company’s stock valued at $259,000 after buying an additional 11,000 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted 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 buying an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Shares of Commercial Metals Company (NYSE CMC) opened at 18.52 on Wednesday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 28.62 and a beta of 1.22. The company has a 50-day moving average of $18.89 and a 200 day moving average of $19.09. Commercial Metals Company has a one year low of $14.57 and a one year high of $24.64.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (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 company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts forecast that Commercial Metals Company will post $0.90 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on CMC shares. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 target price 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 decreased their target price 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 boosted their target price 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. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus 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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