HRT Financial LLC Buys New Holdings in Commercial Metals (CMC)

HRT Financial LLC bought a new stake in Commercial Metals (NYSE:CMC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,600 shares of the basic materials company’s stock, valued at approximately $298,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Commercial Metals by 38.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 2,239 shares during the period. King Luther Capital Management Corp grew its holdings in Commercial Metals by 1.1% in the fourth quarter. King Luther Capital Management Corp now owns 229,750 shares of the basic materials company’s stock valued at $4,898,000 after purchasing an additional 2,485 shares during the period. Meadow Creek Investment Management LLC grew its holdings in Commercial Metals by 24.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 15,400 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 2,996 shares during the period. Strs Ohio grew its holdings in Commercial Metals by 176.5% in the fourth quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 3,000 shares during the period. Finally, ING Groep NV grew its holdings in Commercial Metals by 23.3% in the fourth quarter. ING Groep NV now owns 17,479 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 3,299 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

CMC opened at $24.53 on Thursday. The company has a quick ratio of 2.12, a current ratio of 3.11 and a debt-to-equity ratio of 0.55. Commercial Metals has a 52-week low of $17.05 and a 52-week high of $26.72. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 0.39 and a beta of 1.37.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 22nd. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Commercial Metals had a net margin of 1.15% and a return on equity of 8.05%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. Commercial Metals’s revenue for the quarter was up 22.3% on a year-over-year basis. research analysts predict that Commercial Metals will post 1.45 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on CMC shares. Macquarie upgraded shares of Commercial Metals from an “underperform” rating to a “neutral” rating and set a $24.00 target price for the company in a report on Thursday, May 17th. ValuEngine downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Longbow Research assumed coverage on shares of Commercial Metals in a research note on Friday, April 6th. They set a “buy” rating and a $27.00 price objective for the company. Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, March 20th. They set a “sell” rating and a $25.00 price objective for the company. Finally, Deutsche Bank decreased their price objective on shares of Commercial Metals from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Commercial Metals has a consensus rating of “Hold” and an average target price of $24.33.

About Commercial Metals

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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