AQR Capital Management LLC Acquires 115,326 Shares of Commercial Metals (NYSE:CMC)

AQR Capital Management LLC lifted its holdings in Commercial Metals (NYSE:CMC) by 17.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 774,218 shares of the basic materials company’s stock after buying an additional 115,326 shares during the quarter. AQR Capital Management LLC owned about 0.67% of Commercial Metals worth $42,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in shares of Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Commercial Metals in the 2nd quarter worth approximately $50,132,000. Jacobs Levy Equity Management Inc. lifted its holdings in Commercial Metals by 388.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after buying an additional 237,477 shares in the last quarter. First Trust Advisors LP boosted its position in Commercial Metals by 59.1% in the 4th quarter. First Trust Advisors LP now owns 617,188 shares of the basic materials company’s stock valued at $30,884,000 after buying an additional 229,266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Commercial Metals by 1,701.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company’s stock valued at $13,387,000 after buying an additional 215,131 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group started coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Bank of America reduced their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Wolfe Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Commercial Metals has a consensus rating of “Moderate Buy” and an average price target of $61.40.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $55.00 on Friday. The firm’s 50 day simple moving average is $53.82 and its 200 day simple moving average is $54.73. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $61.26. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 11.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83.

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.