Commercial Metals Company (CMC) Position Cut by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its holdings in Commercial Metals Company (NYSE:CMC) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,144 shares of the basic materials company’s stock after selling 34,134 shares during the period. Robeco Institutional Asset Management B.V. owned 0.24% of Commercial Metals worth $5,501,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $102,000 after purchasing an additional 2,142 shares during the last quarter. Elkfork Partners LLC lifted its stake in 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 purchasing an additional 660 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its stake in 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 purchasing an additional 5,182 shares during the last quarter. Meadow Creek Investment Management LLC lifted its stake in 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 purchasing an additional 840 shares during the last quarter. Finally, Glen Harbor Capital Management LLC lifted its stake 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 worth $162,000 after purchasing an additional 1,020 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Bank of America Corporation reaffirmed a “neutral” rating and set a $21.00 price target (up previously from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, September 4th. Macquarie assumed coverage on shares of Commercial Metals in a research note on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, June 28th. Finally, Clarkson Capital reaffirmed a “sell” rating and set a $16.00 price target on shares of Commercial Metals in a research note on Tuesday, August 15th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Commercial Metals currently has a consensus rating of “Hold” and a consensus price target of $21.11.

Commercial Metals Company (CMC) opened at 18.06 on Friday. Commercial Metals Company has a 12-month low of $14.99 and a 12-month high of $24.64. The firm has a 50-day moving average of $18.28 and a 200 day moving average of $18.75. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 27.91 and a beta of 1.22.

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

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Commercial Metals 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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