Cim LLC Buys 1,154 Shares of Commercial Metals (NYSE:CMC)

Cim LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,066 shares of the basic materials company’s stock after purchasing an additional 1,154 shares during the quarter. Cim LLC’s holdings in Commercial Metals were worth $2,055,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Commercial Metals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after acquiring an additional 20,751 shares in the last quarter. Boston Partners increased its stake in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Commercial Metals by 61.9% during the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after buying an additional 25,642 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after acquiring an additional 237,477 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Commercial Metals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 630,836 shares of the basic materials company’s stock valued at $37,075,000 after acquiring an additional 67,068 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Down 0.8 %

CMC stock opened at $54.53 on Wednesday. The stock’s 50 day simple moving average is $53.69 and its 200 day simple moving average is $54.76. The company has a market cap of $6.27 billion, a P/E ratio of 11.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $61.26.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CMC shares. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Jefferies Financial Group started coverage on Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Wolfe Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America reduced their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.