Robeco Institutional Asset Management B.V. reduced its stake in shares of Commercial Metals Company (NYSE:CMC) by 10.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 283,144 shares of the basic materials company’s stock after selling 34,134 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.24% of Commercial Metals worth $5,501,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Commercial Metals by 17,672.9% in the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock valued at $278,663,000 after buying an additional 14,484,894 shares during the period. Systematic Financial Management LP boosted its position in 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 valued at $34,636,000 after buying an additional 1,733,742 shares during the period. Goldman Sachs Group Inc. boosted its position in Commercial Metals by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,986,048 shares of the basic materials company’s stock valued at $76,253,000 after buying an additional 1,201,973 shares during the period. Deprince Race & Zollo Inc. boosted its position in Commercial Metals by 167.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock valued at $36,922,000 after buying an additional 1,190,364 shares during the period. Finally, State Street Corp boosted its position in Commercial Metals by 8.9% in the first quarter. State Street Corp now owns 6,115,380 shares of the basic materials company’s stock valued at $116,984,000 after buying an additional 497,543 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of Commercial Metals Company (NYSE:CMC) opened at 19.03 on Friday. The firm’s 50-day moving average is $18.74 and its 200-day moving average is $18.98. Commercial Metals Company has a 52 week low of $14.57 and a 52 week high of $24.64. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 29.41 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts forecast that Commercial Metals Company will post $0.90 earnings per share for the current fiscal year.

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CMC has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 target price on shares of Commercial Metals in a research note on Wednesday, May 24th. Bank of America Corporation lowered shares of Commercial Metals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $19.00 in a research note on Thursday, June 8th. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Citigroup Inc. upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $21.00 to $22.00 in a research note on Tuesday, June 13th. Finally, BidaskClub upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $21.75.

About Commercial Metals

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.

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

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