Amalgamated Bank Has $3.22 Million Stock Position in Commercial Metals (NYSE:CMC)

Amalgamated Bank reduced its position in shares of Commercial Metals (NYSE:CMCGet Rating) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,287 shares of the basic materials company’s stock after selling 2,972 shares during the period. Amalgamated Bank’s holdings in Commercial Metals were worth $3,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMC. State of Michigan Retirement System grew its stake in shares of Commercial Metals by 1.0% in the first quarter. State of Michigan Retirement System now owns 30,837 shares of the basic materials company’s stock worth $1,283,000 after purchasing an additional 299 shares during the last quarter. Bridgewater Associates LP lifted its holdings in Commercial Metals by 0.6% in the fourth quarter. Bridgewater Associates LP now owns 57,948 shares of the basic materials company’s stock valued at $2,103,000 after buying an additional 319 shares during the period. Mackenzie Financial Corp lifted its holdings in Commercial Metals by 5.0% in the first quarter. Mackenzie Financial Corp now owns 6,812 shares of the basic materials company’s stock valued at $284,000 after buying an additional 327 shares during the period. Centaurus Financial Inc. raised its holdings in shares of Commercial Metals by 5.2% during the first quarter. Centaurus Financial Inc. now owns 7,887 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 388 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Commercial Metals by 1.3% during the first quarter. Arizona State Retirement System now owns 32,869 shares of the basic materials company’s stock valued at $1,368,000 after purchasing an additional 414 shares during the period. Institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling

In related news, SVP Ty L. Garrison sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 114,609 shares of the company’s stock, valued at approximately $4,501,841.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Commercial Metals Stock Down 0.5 %

CMC opened at $37.07 on Friday. The company has a 50 day moving average of $39.79 and a 200 day moving average of $39.38. The company has a market cap of $4.47 billion, a PE ratio of 4.21 and a beta of 1.22. Commercial Metals has a 12 month low of $29.96 and a 12 month high of $46.68. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Commercial Metals to $42.00 in a report on Tuesday, September 13th. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. The Goldman Sachs Group reduced their price objective on shares of Commercial Metals from $42.00 to $38.00 in a research report on Tuesday, May 31st. KeyCorp reduced their target price 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, Credit Suisse Group increased their target price on shares of Commercial Metals from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, June 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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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