Commercial Metals (NYSE:CMC) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,392 shares of the basic materials company’s stock after purchasing 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.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Commercial Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock worth $632,577,000 after purchasing an additional 191,345 shares during the period. Boston Partners raised its position in Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after acquiring an additional 3,063,241 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Commercial Metals by 4.5% in the first quarter. Principal Financial Group Inc. now owns 1,774,666 shares of the basic materials company’s stock valued at $104,297,000 after acquiring an additional 76,742 shares during the period. Bank of New York Mellon Corp lifted its holdings in Commercial Metals by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock valued at $71,283,000 after acquiring an additional 18,205 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Commercial Metals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company’s stock worth $68,160,000 after purchasing an additional 25,816 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMC shares. Bank of America decreased 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 cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Finally, Wolfe Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Three equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.40.

Commercial Metals Stock Up 0.7 %

Shares of NYSE CMC opened at $53.66 on Tuesday. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $61.26. 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 company has a market capitalization of $6.17 billion, a P/E ratio of 11.18 and a beta of 1.15. The company has a 50 day simple moving average of $54.11 and a 200-day simple moving average of $54.71.

Commercial Metals 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.