Handelsbanken Fonder AB Purchases 7,200 Shares of Commercial Metals (NYSE:CMC)

Handelsbanken Fonder AB grew its position in Commercial Metals (NYSE:CMC) by 34.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,200 shares of the basic materials company’s stock after acquiring an additional 7,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Commercial Metals were worth $1,550,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Commercial Metals in the 1st quarter worth about $28,000. Archer Investment Corp purchased a new stake in shares of Commercial Metals in the second quarter worth approximately $77,000. GAMMA Investing LLC lifted its stake in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 282 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Commercial Metals during the 2nd quarter valued at $129,000. Finally, Adirondack Trust Co. grew its position in Commercial Metals by 88.2% in the 4th quarter. Adirondack Trust Co. now owns 3,200 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Up 0.7 %

NYSE:CMC opened at $52.96 on Friday. The firm has a 50-day simple moving average of $52.83 and a 200-day simple moving average of $54.62. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The firm has a market cap of $6.09 billion, a P/E ratio of 11.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Finally, StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.40.

Commercial Metals Company Profile

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.