First Manhattan Co. Has $12.46 Million Position in Commercial Metals (CMC)

First Manhattan Co. decreased its position in shares of Commercial Metals (NYSE:CMC) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,390 shares of the basic materials company’s stock after selling 14,217 shares during the period. First Manhattan Co. owned 0.52% of Commercial Metals worth $12,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Commercial Metals by 3.2% during the second quarter. BlackRock Inc. now owns 12,908,547 shares of the basic materials company’s stock valued at $272,500,000 after acquiring an additional 394,482 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Commercial Metals by 9.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,244,481 shares of the basic materials company’s stock worth $89,601,000 after buying an additional 350,990 shares during the last quarter. FMR LLC raised its holdings in shares of Commercial Metals by 104.5% in the second quarter. FMR LLC now owns 3,269,044 shares of the basic materials company’s stock worth $69,010,000 after buying an additional 1,670,640 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Commercial Metals by 4.8% in the second quarter. Northern Trust Corp now owns 2,880,494 shares of the basic materials company’s stock worth $60,806,000 after buying an additional 131,040 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Commercial Metals by 2.9% in the second quarter. Voya Investment Management LLC now owns 2,133,160 shares of the basic materials company’s stock worth $45,031,000 after buying an additional 60,443 shares during the last quarter. 89.02% of the stock is owned by institutional investors.

A number of research firms have issued reports on CMC. ValuEngine cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Seaport Global Securities began coverage on shares of Commercial Metals in a report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 price target for the company. Deutsche Bank cut shares of Commercial Metals to a “buy” rating in a 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 for the company in a report on Monday, August 13th. Finally, Bank of America cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.44.

NYSE:CMC opened at $18.53 on Thursday. The firm has a market capitalization of $2.40 billion, a PE ratio of 29.89 and a beta of 1.32. Commercial Metals has a 1-year low of $17.58 and a 1-year 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 Company 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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