Commercial Metals (NYSE:CMC) Position Increased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Commercial Metals (NYSE:CMC) by 749.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,466 shares of the basic materials company’s stock after purchasing an additional 26,880 shares during the quarter. SG Americas Securities LLC’s holdings in Commercial Metals were worth $1,674,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cim LLC bought a new position in Commercial Metals during the fourth quarter valued at approximately $2,120,000. Russell Investments Group Ltd. increased its stake in shares of Commercial Metals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock worth $11,676,000 after purchasing an additional 20,751 shares during the last quarter. Boston Partners raised its holdings in shares of Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after purchasing an additional 3,063,241 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Commercial Metals by 61.9% in the 1st quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock valued at $3,941,000 after purchasing an additional 25,642 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after purchasing an additional 237,477 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMC has been the subject of a number of analyst reports. Bank of America reduced their price target on 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 Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.40.

Commercial Metals Trading Down 1.2 %

Commercial Metals stock opened at $52.63 on Wednesday. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 10.96 and a beta of 1.14. The business has a 50 day moving average price of $53.08 and a two-hundred day moving average price of $54.65. 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 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.