Swiss National Bank Reduces Stake in Commercial Metals

SEATTLE (Scrap Monster):  Swiss National Bank lessened its stake in shares of Commercial Metals by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 230,400 shares of the basic materials company’s stock after selling 26,400 shares during the period. Swiss National Bank’s holdings in Commercial Metals were worth $11,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock worth $615,159,000 after acquiring an additional 487,792 shares during the last quarter.

Fuller & Thaler Asset Management Inc. lifted its position in shares of Commercial Metals by 26.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock worth $123,834,000 after purchasing an additional 527,709 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 241.3% in the fourth quarter.

Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock valued at $90,564,000 after purchasing an additional 1,279,617 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Commercial Metals by 32.0% in the third quarter.

Charles Schwab Investment Management Inc. now owns 1,385,435 shares of the basic materials company’s stock valued at $68,454,000 after purchasing an additional 335,926 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Commercial Metals by 2.8% during the 3rd quarter.

American Century Companies Inc. now owns 1,182,690 shares of the basic materials company’s stock worth $58,437,000 after buying an additional 32,217 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CMC has been the subject of several research reports. UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target for the company

Courtesy: www.reuters.com