Commercial Metals (NYSE:CMC) Stock Holdings Cut by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its position in Commercial Metals (NYSE:CMC) by 36.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,282 shares of the basic materials company’s stock after selling 39,078 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Commercial Metals worth $3,755,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CMC. First Dallas Securities Inc. raised its position in Commercial Metals by 0.8% in the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock worth $1,222,000 after acquiring an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Commercial Metals by 0.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock worth $1,473,000 after purchasing an additional 187 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in shares of Commercial Metals by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 67,943 shares of the basic materials company’s stock worth $3,400,000 after purchasing an additional 251 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Commercial Metals by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after purchasing an additional 276 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 2.2 %

NYSE:CMC opened at $53.27 on Monday. The business’s fifty day moving average price is $54.17 and its 200 day moving average price is $54.71. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 11.10 and a beta of 1.15. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26.

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

Wall Street Analysts Forecast Growth

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