Public Employees Retirement Association of Colorado Trims Position in Commercial Metals (NYSE:CMC)

Public Employees Retirement Association of Colorado decreased its position in shares of Commercial Metals (NYSE:CMC) by 7.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,465 shares of the basic materials company’s stock after selling 1,078 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Commercial Metals were worth $740,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CMC. Rise Advisors LLC purchased a new position in Commercial Metals during the first quarter valued at $28,000. SYSTM Wealth Solutions LLC bought a new stake in shares of Commercial Metals in the first quarter worth about $44,000. Archer Investment Corp purchased a new stake in shares of Commercial Metals in the second quarter worth about $77,000. GAMMA Investing LLC boosted its stake 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 buying an additional 282 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Commercial Metals in the 4th quarter worth approximately $123,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 1.8 %

CMC stock opened at $53.56 on Thursday. The firm’s fifty day simple moving average is $53.94 and its two-hundred day simple moving average is $54.70. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.16 and a beta of 1.15. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26.

Analyst Upgrades and Downgrades

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