Tectonic Advisors LLC Boosts Stake in Commercial Metals Company $CMC

Tectonic Advisors LLC raised its position in Commercial Metals Company (NYSE:CMC) by 12.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,327 shares of the basic materials company’s stock after buying an additional 3,672 shares during the period. Tectonic Advisors LLC’s holdings in Commercial Metals were worth $1,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its stake in shares of Commercial Metals by 3.2% in the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 226 shares during the period. Choreo LLC increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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. increased its stake in shares of 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. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 2.2%

Commercial Metals stock opened at $59.30 on Thursday. The company has a 50 day moving average price of $56.98 and a 200 day moving average price of $50.89. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 191.29, a P/E/G ratio of 2.03 and a beta of 1.32.

Wall Street Analyst Weigh In

CMC has been the topic of several analyst reports. Bank of America raised their price target on shares of Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Wells Fargo & Company raised their price target on shares of Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday. Wall Street Zen lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research note on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.39.

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.