Ameritas Investment Partners Inc. Sells 1,731 Shares of Commercial Metals (NYSE:CMC)

Ameritas Investment Partners Inc. decreased its position in shares of Commercial Metals (NYSE:CMC) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,949 shares of the basic materials company’s stock after selling 1,731 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Commercial Metals were worth $1,977,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CMC. First Dallas Securities Inc. boosted its position in Commercial Metals by 0.8% during the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock worth $1,222,000 after purchasing an additional 185 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in 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 valued at $1,473,000 after buying an additional 187 shares in the last quarter. Congress Asset Management Co. MA grew its stake in 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 valued at $3,400,000 after buying an additional 251 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Commercial Metals by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after acquiring an additional 276 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CMC shares. Wolfe Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Bank of America lowered their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Three investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $61.40.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $53.27 on Friday. The stock’s 50-day simple moving average is $54.17 and its two-hundred day simple moving average is $54.69. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26. The firm has a market capitalization of $6.13 billion, a P/E ratio of 11.10 and a beta of 1.15. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 20th. The basic materials company reported $1.02 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business earned $2.02 earnings per share. Commercial Metals’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Commercial Metals will post 4.33 EPS for the current fiscal year.

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.