Commercial Metals (NYSE:CMC) Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its position in shares of Commercial Metals (NYSE:CMCGet Rating) by 10.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,777 shares of the basic materials company’s stock after selling 2,247 shares during the period. Diversified Trust Co’s holdings in Commercial Metals were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System increased its holdings in shares of Commercial Metals by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 30,837 shares of the basic materials company’s stock worth $1,283,000 after buying an additional 299 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of Commercial Metals by 0.6% during the 4th quarter. Bridgewater Associates LP now owns 57,948 shares of the basic materials company’s stock worth $2,103,000 after purchasing an additional 319 shares during the period. Mackenzie Financial Corp boosted its position in shares of Commercial Metals by 5.0% during the 1st quarter. Mackenzie Financial Corp now owns 6,812 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 327 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Commercial Metals by 2.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 17,440 shares of the basic materials company’s stock worth $577,000 after purchasing an additional 350 shares during the period. Finally, Centaurus Financial Inc. boosted its position in shares of Commercial Metals by 5.2% during the 1st quarter. Centaurus Financial Inc. now owns 7,887 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 388 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Activity

In other news, SVP Ty L. Garrison sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $39.28, for a total value of $785,600.00. Following the sale, the senior vice president now directly owns 114,609 shares in the company, valued at approximately $4,501,841.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $37.26 on Thursday. Commercial Metals has a twelve month low of $29.96 and a twelve month high of $46.68. The firm’s fifty day simple moving average is $39.72 and its 200-day simple moving average is $39.39. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 4.23 and a beta of 1.22. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMC. Credit Suisse Group increased their price objective on shares of Commercial Metals from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, June 17th. The Goldman Sachs Group lowered their price objective on shares of Commercial Metals from $42.00 to $38.00 in a research report on Tuesday, May 31st. Citigroup raised their price target on shares of Commercial Metals to $42.00 in a research report on Tuesday, September 13th. KeyCorp decreased their price target on shares of Commercial Metals from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Finally, StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.78.

About Commercial Metals

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

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

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