Diversified Trust Co Grows Position in Commercial Metals (NYSE:CMC)

Diversified Trust Co grew its holdings in Commercial Metals (NYSE:CMC) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,990 shares of the basic materials company’s stock after acquiring an additional 1,107 shares during the period. Diversified Trust Co’s holdings in Commercial Metals were worth $1,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its position in Commercial Metals by 34.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 28,200 shares of the basic materials company’s stock valued at $1,550,000 after buying an additional 7,200 shares during the last quarter. SG Americas Securities LLC boosted its stake in Commercial Metals by 749.6% in the third quarter. SG Americas Securities LLC now owns 30,466 shares of the basic materials company’s stock valued at $1,674,000 after acquiring an additional 26,880 shares during the period. Cim LLC grew its stake in Commercial Metals by 2.9% during the 2nd quarter. Cim LLC now owns 41,066 shares of the basic materials company’s stock worth $2,055,000 after buying an additional 1,154 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Commercial Metals during the second quarter worth about $452,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Commercial Metals by 68.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 65,206 shares of the basic materials company’s stock worth $3,586,000 after purchasing an additional 26,526 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Commercial Metals Stock Down 1.2 %

CMC opened at $52.63 on Wednesday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 10.96 and a beta of 1.14. The firm’s 50-day simple moving average is $53.08 and its 200-day simple moving average is $54.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26.

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.