35,617 Shares in Commercial Metals (NYSE:CMC) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in Commercial Metals (NYSE:CMC) during the second quarter, Holdings Channel.com reports. The firm purchased 35,617 shares of the basic materials company’s stock, valued at approximately $1,959,000.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Commercial Metals in the first quarter valued at about $28,000. SYSTM Wealth Solutions LLC purchased a new position in shares of Commercial Metals in the 1st quarter worth approximately $44,000. Archer Investment Corp bought a new position in shares of Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC lifted 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 acquiring an additional 282 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Commercial Metals during the 2nd quarter valued at $129,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMC. 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. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Jefferies Financial Group began coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and an average target price of $61.40.

Commercial Metals Stock Up 5.0 %

CMC stock opened at $54.49 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The firm’s fifty day simple moving average is $54.22 and its 200-day simple moving average is $54.68. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The company has a market capitalization of $6.27 billion, a P/E ratio of 11.35 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period last year, the firm earned $2.02 EPS. As a group, equities research analysts forecast that Commercial Metals will post 4.33 earnings per share for the current year.

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.