Commercial Metals (CMC) Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Commercial Metals (NYSE:CMC) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 152,016 shares of the basic materials company’s stock after selling 10,450 shares during the period. PNC Financial Services Group Inc.’s holdings in Commercial Metals were worth $2,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CMC. SignalPoint Asset Management LLC raised its holdings in shares of Commercial Metals by 3.5% in the 4th quarter. SignalPoint Asset Management LLC now owns 25,331 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 852 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Commercial Metals by 0.9% in the 4th quarter. Retirement Systems of Alabama now owns 152,509 shares of the basic materials company’s stock worth $2,443,000 after purchasing an additional 1,290 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Commercial Metals by 1.4% in the 4th quarter. Bank of Montreal Can now owns 92,612 shares of the basic materials company’s stock worth $1,483,000 after purchasing an additional 1,290 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Commercial Metals by 1.6% in the 4th quarter. Arizona State Retirement System now owns 84,428 shares of the basic materials company’s stock worth $1,353,000 after purchasing an additional 1,342 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its holdings in shares of Commercial Metals by 0.8% in the 4th quarter. ClariVest Asset Management LLC now owns 203,200 shares of the basic materials company’s stock worth $3,255,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 87.45% of the company’s stock.

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CMC has been the topic of several analyst reports. Goldman Sachs Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, January 14th. ValuEngine downgraded shares of Commercial Metals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 9th. Zacks Investment Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, January 2nd. Seaport Global Securities reissued a “hold” rating on shares of Commercial Metals in a research report on Tuesday, January 8th. Finally, Citigroup set a $18.00 target price on shares of Commercial Metals and gave the stock a “hold” rating in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Commercial Metals presently has a consensus rating of “Hold” and a consensus price target of $21.11.

Commercial Metals stock opened at $15.65 on Friday. The company has a market capitalization of $2.00 billion, a PE ratio of 10.50 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 1.58 and a debt-to-equity ratio of 0.88. Commercial Metals has a fifty-two week low of $15.23 and a fifty-two week high of $26.59.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, January 7th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. Commercial Metals had a net margin of 2.51% and a return on equity of 12.32%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, equities research analysts predict that Commercial Metals will post 1.86 earnings per share for the current fiscal year.

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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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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

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