Towle Co Exits Position in Commercial Metals Company (CMC)

Commercial Metals Company (CMC) : Towle Co has sold out all of its stake in Commercial Metals Company during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 220 shares of Commercial Metals Company which is valued at $3,707.

Other Hedge Funds, Including , First Midwest Bank Trust Division boosted its stake in CMC in the latest quarter, The investment management firm added 9,888 additional shares and now holds a total of 28,462 shares of Commercial Metals Company which is valued at $475,031. Commercial Metals Company makes up approx 0.06% of First Midwest Bank Trust Division’s portfolio.Nordea Investment Management Ab reduced its stake in CMC by selling 111,132 shares or 72.89% in the most recent quarter. The Hedge Fund company now holds 41,333 shares of CMC which is valued at $692,328. Fox Run Management L.l.c. added CMC to its portfolio by purchasing 20,300 company shares during the most recent quarter which is valued at $340,025. Commercial Metals Company makes up approx 0.16% of Fox Run Management L.l.c.’s portfolio.Alpha Windward reduced its stake in CMC by selling 4,140 shares or 14.41% in the most recent quarter. The Hedge Fund company now holds 24,600 shares of CMC which is valued at $419,676. Commercial Metals Company makes up approx 0.30% of Alpha Windward’s portfolio.

Commercial Metals Company closed down -0.07 points or -0.42% at $16.61 with 7,11,698 shares getting traded on Monday. Post opening the session at $16.73, the shares hit an intraday low of $16.59 and an intraday high of $16.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Commercial Metals Company reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 23, 2016. Analyst had a consensus of $0.29. The company had revenue of $1227.40 million for the quarter, compared to analysts expectations of $1195.85 million. The company’s revenue was down -18.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.58 EPS.

Many Wall Street Analysts have commented on Commercial Metals Company. Commercial Metals Company was Downgraded by BofA/Merrill to ” Underperform” on Jun 2, 2016.

Commercial Metals Company (CMC) manufactures recycles and markets steel and metal products related materials and services. CMC has a network of steel mills (minimills) steel fabrication and processing facilities warehouses metal recycling facilities. It has five business segments: Americas Recycling Americas Mills Americas Fabrication International Mill and International Marketing and Distribution. The Americas Recycling segment processes scrap metals. The Americas Mills segment includes five steel minimills; two scrap metal shredders and 10 scrap metal processing facilities. The Americas Fabrication segment consists of CMC’s steel fabrication facilities. The International Mill segment comprises CMC’s mill recycling and fabrication operations located in Poland. International Marketing and Distribution segment includes international operations for the sales distribution and processing of steel products ferrous and nonferrous metals and other industrial products.

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