Commercial Metals (NYSE:CMC) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in shares of Commercial Metals (NYSE:CMC) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,594 shares of the basic materials company’s stock after acquiring an additional 1,851 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Commercial Metals were worth $889,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CMC. Rise Advisors LLC acquired a new position in shares of Commercial Metals during the 1st quarter valued at $28,000. SYSTM Wealth Solutions LLC bought a new stake in Commercial Metals in the first quarter worth about $44,000. Archer Investment Corp acquired a new stake in Commercial Metals in the 2nd quarter valued at about $77,000. GAMMA Investing LLC boosted its position in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 282 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $123,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of CMC stock opened at $54.49 on Friday. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 11.13 and a beta of 1.15. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $54.22 and its 200-day simple moving average is $54.68.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. On average, sell-side analysts predict that Commercial Metals will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Jefferies Financial Group began coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Finally, StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.40.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.