Inspire Investing LLC Grows Stock Holdings in Commercial Metals (NYSE:CMC)

Inspire Investing LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 6,392 shares of the basic materials company’s stock after acquiring an additional 284 shares during the quarter. Inspire Investing LLC’s holdings in Commercial Metals were worth $351,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CMC. UBS Group AG increased its holdings in shares of Commercial Metals by 30.0% in the 4th quarter. UBS Group AG now owns 134,549 shares of the basic materials company’s stock valued at $6,733,000 after acquiring an additional 31,018 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in Commercial Metals in the fourth quarter valued at approximately $220,000. Quest Partners LLC purchased a new position in Commercial Metals in the fourth quarter valued at approximately $123,000. Assetmark Inc. increased its stake in Commercial Metals by 23.4% in the fourth quarter. Assetmark Inc. now owns 4,755 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 901 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Commercial Metals by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 555,038 shares of the basic materials company’s stock worth $27,774,000 after purchasing an additional 4,994 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMC. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Jefferies Financial Group started coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Bank of America cut their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Wolfe Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.40.

Commercial Metals Trading Up 0.7 %

NYSE CMC opened at $53.66 on Tuesday. The firm’s fifty day moving average is $54.11 and its two-hundred day moving average is $54.71. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The firm has a market cap of $6.17 billion, a PE ratio of 11.18 and a beta of 1.15.

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.