Ameritas Investment Partners Inc. Sells 1,731 Shares of Commercial Metals (NYSE:CMC)

Ameritas Investment Partners Inc. reduced its position in Commercial Metals (NYSE:CMC) by 4.6% in the second quarter, Holdings Channel.com reports. The firm owned 35,949 shares of the basic materials company’s stock after selling 1,731 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Commercial Metals were worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in Commercial Metals in the 1st quarter worth approximately $28,000. SYSTM Wealth Solutions LLC purchased a new stake in shares of Commercial Metals in the 1st quarter valued at $44,000. Archer Investment Corp purchased a new stake in shares of Commercial Metals in the 2nd quarter valued at $77,000. GAMMA Investing LLC grew its holdings in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 282 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Commercial Metals in the 4th quarter worth $123,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMC. Bank of America cut their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.40.

Commercial Metals Stock Performance

Commercial Metals stock opened at $53.27 on Friday. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.13 billion, a P/E ratio of 11.10 and a beta of 1.15. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The firm has a 50-day moving average of $54.17 and a 200-day moving average of $54.69.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business posted $2.02 EPS. The business’s revenue was down 11.4% on a year-over-year basis. Sell-side analysts expect that Commercial Metals will post 4.33 EPS for the current year.

About Commercial Metals

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.