Xponance Inc. Has $932,000 Stock Holdings in Commercial Metals (NYSE:CMC)

Xponance Inc. reduced its stake in shares of Commercial Metals (NYSE:CMC) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,957 shares of the basic materials company’s stock after selling 1,150 shares during the quarter. Xponance Inc.’s holdings in Commercial Metals were worth $932,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Commercial Metals during the first quarter worth about $28,000. SYSTM Wealth Solutions LLC acquired a new stake in shares of Commercial Metals during the 1st quarter worth approximately $44,000. Archer Investment Corp bought a new position in Commercial Metals in the second quarter valued at approximately $77,000. GAMMA Investing LLC raised its position in Commercial Metals by 21.9% during the second 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Commercial Metals during the second quarter worth $129,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC stock opened at $55.00 on Friday. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 11.46 and a beta of 1.15. 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 business’s 50-day moving average price is $53.82 and its 200-day moving average price is $54.73. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America decreased their price target on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Wolfe Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.40.

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.