Lucus Advisors LLC lowered its stake in shares of Commercial Metals Co. (NYSE:CMC) by 29.2% during the second quarter, Holdings Channel reports. The firm owned 21,321 shares of the company’s stock after selling 8,797 shares during the period. Commercial Metals comprises 0.3% of Lucus Advisors LLC’s holdings, making the stock its 13th largest position. Lucus Advisors LLC’s holdings in Commercial Metals were worth $360,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. LS Investment Advisors LLC increased 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 increased its stake in shares of 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 during the period. Invictus RG purchased a new stake in shares of Commercial Metals during the first quarter worth approximately $205,000. Eqis Capital Management Inc. purchased a new stake in shares of Commercial Metals during the second quarter worth approximately $206,000. Finally, Acrospire Investment Management LLC purchased a new stake in shares of 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 1.12% during midday trading on Tuesday, reaching $16.24. 1,059,448 shares of the company were exchanged. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.75 and a beta of 1.59. Commercial Metals Co. has a 52-week low of $12.44 and a 52-week high of $18.50. The firm’s 50-day moving average price is $15.81 and its 200 day moving average price is $16.74.
A number of equities research analysts have recently commented on CMC shares. Zacks Investment Research upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Monday, May 30th. Bank of America Corp. downgraded shares of Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price target for the company. in a report on Thursday, June 2nd. Jefferies Group reiterated a “buy” rating on shares of Commercial Metals in a report on Saturday, June 4th. Clarkson Capital downgraded shares of Commercial Metals from a “neutral” rating to a “sell” rating in a report on Monday, June 27th. Finally, 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 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.69.
In other Commercial Metals news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $16.36, for a total value of $38,724.12. Following the completion of the sale, the director now directly owns 69,252 shares of the company’s stock, valued at approximately $1,132,962.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.
About Commercial Metals
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.
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 Co. (NYSE:CMC).
Receive News & Ratings for Commercial Metals Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals Co. and related companies with MarketBeat.com's FREE daily email newsletter.