Commercial Metals (CMC) Position Lowered by Paloma Partners Management Co

Paloma Partners Management Co reduced its stake in Commercial Metals (NYSE:CMC) by 45.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,183 shares of the basic materials company’s stock after selling 78,017 shares during the quarter. Paloma Partners Management Co owned about 0.08% of Commercial Metals worth $2,009,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMC. HRT Financial LLC acquired a new position in shares of Commercial Metals in the first quarter worth approximately $298,000. NumerixS Investment Technologies Inc lifted its stake in shares of Commercial Metals by 62.9% in the second quarter. NumerixS Investment Technologies Inc now owns 15,100 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 5,832 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Commercial Metals in the first quarter worth approximately $326,000. Xact Kapitalforvaltning AB lifted its stake in shares of Commercial Metals by 48.3% in the first quarter. Xact Kapitalforvaltning AB now owns 17,197 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 5,600 shares during the period. Finally, Cim Investment Mangement Inc. acquired a new position in shares of Commercial Metals in the second quarter worth approximately $359,000. 89.22% of the stock is currently owned by institutional investors.

Shares of CMC opened at $21.15 on Friday. Commercial Metals has a 52-week low of $17.46 and a 52-week high of $26.72. The company has a current ratio of 3.90, a quick ratio of 2.73 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 19.90 and a beta of 1.36.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, June 21st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). Commercial Metals had a net margin of 1.21% and a return on equity of 8.65%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $0.34 earnings per share. Commercial Metals’s quarterly revenue was up 15.3% compared to the same quarter last year. equities analysts predict that Commercial Metals will post 1.49 earnings per share for the current year.

A number of equities analysts recently commented on CMC shares. Bank of America lowered Commercial Metals from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 27th. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Macquarie reissued a “neutral” rating on shares of Commercial Metals in a research note on Thursday, May 31st. Citigroup boosted their price target on Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, June 12th. Finally, Goldman Sachs Group raised Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $25.00.

Commercial Metals Company 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.

Read More: Price to Earnings Ratio (PE) Basics

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

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