Systematic Financial Management LP Lowers Stock Holdings in Commercial Metals (NYSE:CMC)

Systematic Financial Management LP cut its stake in shares of Commercial Metals (NYSE:CMC) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 508,963 shares of the basic materials company’s stock after selling 20,814 shares during the quarter. Systematic Financial Management LP owned approximately 0.44% of Commercial Metals worth $27,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CMC. Cim LLC bought a new stake in Commercial Metals during the 4th quarter valued at $2,120,000. Russell Investments Group Ltd. lifted its position in shares of Commercial Metals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after purchasing an additional 20,751 shares during the period. Boston Partners lifted its position in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after purchasing an additional 3,063,241 shares during the period. BNP Paribas Financial Markets raised its stake in Commercial Metals by 61.9% in the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after buying an additional 25,642 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Commercial Metals by 388.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after buying an additional 237,477 shares during the period. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CMC shares. Jefferies Financial Group began coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Bank of America cut their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Wolfe Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and an average price target of $61.40.

Commercial Metals Trading Up 0.2 %

NYSE:CMC opened at $55.00 on Friday. The firm has a fifty day simple moving average of $53.82 and a 200-day simple moving average of $54.73. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $6.32 billion, a P/E ratio of 11.46 and a beta of 1.15.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.