HighTower Advisors LLC Decreases Holdings in Commercial Metals (NYSE:CMC)

HighTower Advisors LLC reduced its position in Commercial Metals (NYSE:CMC) by 80.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,089 shares of the basic materials company’s stock after selling 92,585 shares during the quarter. HighTower Advisors LLC’s holdings in Commercial Metals were worth $709,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fruth Investment Management raised its position in Commercial Metals by 22.1% in the 2nd quarter. Fruth Investment Management now owns 18,200 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 3,300 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Commercial Metals in the 1st quarter worth about $296,000. Hanseatic Management Services Inc. grew its stake in Commercial Metals by 3.9% in the 2nd quarter. Hanseatic Management Services Inc. now owns 14,168 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 531 shares in the last quarter. Profund Advisors LLC grew its stake in Commercial Metals by 28.3% in the 1st quarter. Profund Advisors LLC now owns 13,079 shares of the basic materials company’s stock worth $403,000 after acquiring an additional 2,885 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Commercial Metals in the 1st quarter worth about $66,000. 87.74% of the stock is currently owned by institutional investors.

CMC has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Commercial Metals in a research note on Wednesday, June 16th. They set a “neutral” rating and a $39.00 price objective on the stock. Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Thursday, September 2nd. BMO Capital Markets increased their price objective on shares of Commercial Metals from $26.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, July 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “hold” rating and raised their target price for the company from $32.00 to $36.00 in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has an average rating of “Hold” and a consensus price target of $29.10.

Shares of CMC opened at $29.87 on Wednesday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 11.02 and a beta of 1.30. Commercial Metals has a twelve month low of $18.67 and a twelve month high of $36.49. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $32.10 and a two-hundred day moving average of $31.10.

Commercial Metals Company Profile

Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.

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

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