State Board of Administration of Florida Retirement System Has $1,917,000 Stake in Commercial Metals Company (CMC)

State Board of Administration of Florida Retirement System held its position in shares of Commercial Metals Company (NYSE:CMC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,643 shares of the basic materials company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Commercial Metals worth $1,917,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of Commercial Metals by 42.5% in the first quarter. Bank of America Corp DE now owns 545,774 shares of the basic materials company’s stock worth $10,440,000 after acquiring an additional 162,791 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Commercial Metals by 2,256.4% in the first quarter. Systematic Financial Management LP now owns 1,810,577 shares of the basic materials company’s stock worth $34,636,000 after acquiring an additional 1,733,742 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Commercial Metals by 22.7% in the first quarter. Bank of Nova Scotia now owns 69,200 shares of the basic materials company’s stock worth $1,324,000 after acquiring an additional 12,800 shares in the last quarter. Comerica Bank grew its stake in shares of Commercial Metals by 30.7% in the second quarter. Comerica Bank now owns 153,530 shares of the basic materials company’s stock worth $3,071,000 after acquiring an additional 36,049 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Commercial Metals by 1.5% in the second quarter. Arizona State Retirement System now owns 48,800 shares of the basic materials company’s stock worth $948,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Commercial Metals Company (NYSE CMC) opened at 18.22 on Wednesday. The firm has a market cap of $2.11 billion, a P/E ratio of 28.16 and a beta of 1.22. The company’s 50 day moving average is $18.50 and its 200-day moving average is $18.80. Commercial Metals Company has a 52 week low of $14.58 and a 52 week high of $24.64.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.11. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. Equities analysts expect that Commercial Metals Company will post $0.89 earnings per share for the current year.

WARNING: “State Board of Administration of Florida Retirement System Has $1,917,000 Stake in Commercial Metals Company (CMC)” was first posted by Stock Observer and is owned by of Stock Observer. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thestockobserver.com/2017/09/13/state-board-of-administration-of-florida-retirement-system-has-1917000-stake-in-commercial-metals-company-cmc.html.

Several research firms have commented on CMC. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $22.00 in a research note on Tuesday, June 13th. BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Bank of America Corporation downgraded shares of Commercial Metals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $19.00 in a research note on Thursday, June 8th. Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, May 24th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.22.

Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals Company (NYSE:CMC).

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

Receive News & Ratings for Commercial Metals Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply