First Midwest Bank Trust Division increased its stake in Commercial Metals Co. (NYSE:CMC) by 53.2% during the second quarter, Holdings Channel reports. The firm owned 28,462 shares of the company’s stock after buying an additional 9,888 shares during the period. First Midwest Bank Trust Division’s holdings in Commercial Metals were worth $481,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CMC. LS Investment Advisors LLC boosted its position in Commercial Metals by 68.9% in the second quarter. LS Investment Advisors LLC now owns 6,859 shares of the company’s stock valued at $116,000 after buying an additional 2,798 shares during the period. Springbok Capital Management LLC raised its stake in Commercial Metals by 710.0% in the first quarter. Springbok Capital Management LLC now owns 8,100 shares of the company’s stock worth $137,000 after buying an additional 7,100 shares in the last quarter. Invictus RG acquired a new stake in Commercial Metals during the first quarter worth approximately $205,000. Eqis Capital Management Inc. acquired a new stake in Commercial Metals during the second quarter worth approximately $206,000. Finally, Acrospire Investment Management LLC acquired a new stake in Commercial Metals during the first quarter worth approximately $287,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Commercial Metals Co. (NYSE:CMC) traded up 3.17% during midday trading on Wednesday, reaching $15.94. 1,044,597 shares of the company traded hands. The company has a 50 day moving average of $15.75 and a 200-day moving average of $16.71. The stock has a market capitalization of $1.83 billion, a P/E ratio of 14.48 and a beta of 1.48. Commercial Metals Co. has a 12-month low of $12.44 and a 12-month high of $18.50.
A number of analysts have commented on CMC shares. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Jefferies Group reaffirmed a “hold” rating and set a $16.50 target price on shares of Commercial Metals in a report on Friday, September 16th. Citigroup Inc. started coverage on shares of Commercial Metals in a report on Monday, August 22nd. They set a “neutral” rating and a $16.00 target price for the company. Bank of America Corp. lowered shares of Commercial Metals to a “neutral” rating in a report on Wednesday, July 20th. Finally, Clarkson Capital lowered shares of Commercial Metals from a “neutral” rating to a “sell” rating in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $16.69.
Commercial Metals Company Profile
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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