Legal & General Group Plc Sells 10,559 Shares of Commercial Metals (CMC)

Legal & General Group Plc cut its holdings in Commercial Metals (NYSE:CMC) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 165,416 shares of the basic materials company’s stock after selling 10,559 shares during the quarter. Legal & General Group Plc’s holdings in Commercial Metals were worth $3,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of Commercial Metals by 3.0% in the second quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock valued at $1,715,000 after purchasing an additional 2,354 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Commercial Metals by 3.4% in the second quarter. Mutual of America Capital Management LLC now owns 100,336 shares of the basic materials company’s stock valued at $2,118,000 after purchasing an additional 3,279 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Commercial Metals by 8.4% in the first quarter. Aperio Group LLC now owns 48,427 shares of the basic materials company’s stock valued at $991,000 after purchasing an additional 3,742 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Commercial Metals by 24.4% in the second quarter. Xact Kapitalforvaltning AB now owns 21,397 shares of the basic materials company’s stock valued at $452,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Commercial Metals by 2.3% in the first quarter. Swiss National Bank now owns 201,800 shares of the basic materials company’s stock valued at $4,129,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 89.02% of the company’s stock.

NYSE:CMC opened at $20.24 on Thursday. Commercial Metals has a 1-year low of $17.58 and a 1-year high of $26.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.90 and a quick ratio of 2.73. The firm has a market capitalization of $2.39 billion, a P/E ratio of 19.63 and a beta of 1.36.

Several research firms recently weighed in on CMC. ValuEngine cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Bank of America cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 27th. Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Monday, August 13th. Finally, Citigroup raised their target price on shares of Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, June 12th. One research analyst has 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 company has an average rating of “Hold” and a consensus price target of $25.00.

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.

Featured Story: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC).

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

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply