California Public Employees Retirement System Has $6.84 Million Holdings in Commercial Metals (CMC)

California Public Employees Retirement System raised its position in Commercial Metals (NYSE:CMC) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324,039 shares of the basic materials company’s stock after buying an additional 27,795 shares during the period. California Public Employees Retirement System owned approximately 0.28% of Commercial Metals worth $6,840,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CMC. Wells Fargo & Company MN lifted its position in shares of Commercial Metals by 9.1% during the first quarter. Wells Fargo & Company MN now owns 377,010 shares of the basic materials company’s stock worth $7,714,000 after purchasing an additional 31,354 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Commercial Metals by 20.4% during the first quarter. JPMorgan Chase & Co. now owns 540,507 shares of the basic materials company’s stock worth $11,059,000 after purchasing an additional 91,728 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Commercial Metals by 56.0% during the first quarter. Hsbc Holdings PLC now owns 27,862 shares of the basic materials company’s stock worth $571,000 after purchasing an additional 10,002 shares during the last quarter. Sei Investments Co. lifted its position in shares of Commercial Metals by 61,820.7% during the first quarter. Sei Investments Co. now owns 257,590 shares of the basic materials company’s stock worth $5,270,000 after purchasing an additional 257,174 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Commercial Metals during the first quarter worth about $326,000. 89.02% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the stock. ValuEngine cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Friday. Seaport Global Securities assumed coverage on shares of Commercial Metals in a research report on Thursday. They set a “neutral” rating and a $20.00 price target on the stock. Deutsche Bank cut shares of Commercial Metals to a “buy” rating in a research report on Tuesday, October 2nd. Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price target on the stock in a research report on Monday, August 13th. Finally, Bank of America cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Commercial Metals currently has an average rating of “Hold” and a consensus target price of $24.44.

CMC opened at $19.12 on Friday. The stock has a market cap of $2.40 billion, a P/E ratio of 30.95 and a beta of 1.32. Commercial Metals has a fifty-two week low of $17.58 and a fifty-two week high of $26.72. The company has a current ratio of 3.90, a quick ratio of 2.73 and a debt-to-equity ratio of 0.78.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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

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