The Manufacturers Life Insurance Company reduced its stake in Commercial Metals (NYSE:CMC – Free Report) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,877 shares of the basic materials company’s stock after selling 1,361 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Commercial Metals worth $7,747,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Commercial Metals in the first quarter worth $28,000. Archer Investment Corp purchased a new position in Commercial Metals in the 2nd quarter worth $77,000. GAMMA Investing LLC lifted its position in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Commercial Metals during the 2nd quarter valued at about $129,000. Finally, Adirondack Trust Co. increased its holdings in shares of Commercial Metals by 88.2% in the fourth quarter. Adirondack Trust Co. now owns 3,200 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 1,500 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.
Commercial Metals Price Performance
NYSE:CMC opened at $53.35 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The company has a 50 day moving average price of $53.49 and a 200-day moving average price of $54.74. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 11.10 and a beta of 1.14.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on CMC
Commercial Metals Profile
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. 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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