Marshall Wace LLP Buys Shares of 11,929 Commercial Metals (NYSE:CMC)

Marshall Wace LLP bought a new position in shares of Commercial Metals (NYSE:CMC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,929 shares of the basic materials company’s stock, valued at approximately $656,000.

Several other institutional investors also recently modified their holdings of CMC. Boston Partners increased its holdings in Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after purchasing an additional 3,063,241 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Commercial Metals in the 2nd quarter valued at approximately $50,132,000. Jacobs Levy Equity Management Inc. boosted its position 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 during the period. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 215,131 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Commercial Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock valued at $632,577,000 after acquiring an additional 191,345 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Down 1.2 %

Shares of Commercial Metals stock opened at $52.63 on Wednesday. The stock has a fifty day simple moving average of $53.08 and a 200 day simple moving average of $54.65. The company has a market capitalization of $6.05 billion, a P/E ratio of 10.96 and a beta of 1.14. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Bank of America decreased their price objective on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Finally, Wolfe Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and an average price target of $61.40.

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.