Commercial Metals Company $CMC Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its holdings in shares of Commercial Metals Company (NYSE:CMC) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,700 shares of the basic materials company’s stock after acquiring an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Commercial Metals were worth $1,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Isthmus Partners LLC boosted its position in shares of Commercial Metals by 3.2% during the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock worth $340,000 after buying an additional 226 shares during the period. Choreo LLC boosted its holdings in Commercial Metals by 2.1% in the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock valued at $509,000 after purchasing an additional 228 shares during the period. National Bank of Canada FI boosted its holdings in Commercial Metals by 80.3% in the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares during the period. Fulton Bank N.A. boosted its holdings in Commercial Metals by 3.2% in the second quarter. Fulton Bank N.A. now owns 8,309 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 261 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, October 8th. Wall Street Zen upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Hold” and an average target price of $60.39.

Commercial Metals Stock Down 3.4%

CMC opened at $57.02 on Monday. The business’s 50-day simple moving average is $57.26 and its 200-day simple moving average is $51.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The stock has a market capitalization of $6.38 billion, a P/E ratio of 183.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.32.

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.