Commercial Metals (NYSE:CMC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Commercial Metals (NYSE:CMC) by 4.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,250 shares of the basic materials company’s stock after selling 3,100 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Commercial Metals worth $3,643,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CMC. Cim LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at $2,120,000. Russell Investments Group Ltd. boosted its stake in Commercial Metals by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after acquiring an additional 20,751 shares in the last quarter. Boston Partners grew its holdings in shares of Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Commercial Metals by 61.9% during the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after purchasing an additional 25,642 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Commercial Metals by 388.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after purchasing an additional 237,477 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $53.27 on Monday. The stock has a fifty day moving average price of $54.17 and a 200 day moving average price of $54.71. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The company has a market cap of $6.13 billion, a PE ratio of 11.10 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business earned $2.02 EPS. The business’s revenue was down 11.4% on a year-over-year basis. Sell-side analysts forecast that Commercial Metals will post 4.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMC shares. Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. Wolfe Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Bank of America reduced their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.40.

Commercial Metals 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.