Commercial Metals Company (CMC) Holdings Reduced by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC trimmed its holdings in shares of Commercial Metals Company (NYSE:CMC) by 35.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 538,269 shares of the basic materials company’s stock after selling 291,994 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.46% of Commercial Metals worth $10,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commercial Metals by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 522 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in Commercial Metals by 367.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 5,182 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Commercial Metals by 56.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 2,492 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Commercial Metals by 20.2% during the 2nd quarter. LS Investment Advisors LLC now owns 9,197 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new stake in Commercial Metals during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

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CMC has been the topic of several recent analyst reports. Bank of America Corporation reiterated a “neutral” rating and set a $21.00 target price (up from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, September 4th. Macquarie initiated coverage on Commercial Metals in a research note on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 target price on shares of Commercial Metals in a research note on Wednesday, June 28th. Finally, Clarkson Capital reiterated a “sell” rating and set a $16.00 target price 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 assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.63.

Shares of Commercial Metals Company (CMC) opened at 20.41 on Friday. The stock has a market capitalization of $2.36 billion, a P/E ratio of 31.55 and a beta of 1.22. The firm’s 50-day moving average price is $18.61 and its 200 day moving average price is $18.69. Commercial Metals Company has a 52 week low of $15.16 and a 52 week high of $24.64.

About Commercial Metals

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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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