Foresight Group Ltd Liability Partnership Acquires 5,209 Shares of Commercial Metals (NYSE:CMC)

Foresight Group Ltd Liability Partnership grew its holdings in shares of Commercial Metals (NYSE:CMC) by 88.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,127 shares of the basic materials company’s stock after buying an additional 5,209 shares during the period. Foresight Group Ltd Liability Partnership’s holdings in Commercial Metals were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. First Dallas Securities Inc. boosted its holdings in shares of Commercial Metals by 0.8% during the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after buying an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Commercial Metals by 0.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock worth $1,473,000 after purchasing an additional 187 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Commercial Metals by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 67,943 shares of the basic materials company’s stock worth $3,400,000 after purchasing an additional 251 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Commercial Metals by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock worth $749,000 after purchasing an additional 276 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Commercial Metals by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Bank of America reduced their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.40.

Commercial Metals Price Performance

NYSE CMC opened at $51.90 on Thursday. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $61.26. The firm has a market capitalization of $5.97 billion, a P/E ratio of 10.81 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. The company has a 50-day moving average price of $54.23 and a 200-day moving average price of $54.70.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. Equities research analysts anticipate that Commercial Metals will post 4.33 earnings per share for the current year.

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.