Commercial Metals Company $CMC Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management grew its holdings in shares of Commercial Metals Company (NYSE:CMC) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,316 shares of the basic materials company’s stock after acquiring an additional 387 shares during the period. Meritage Portfolio Management’s holdings in Commercial Metals were worth $456,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CMC. UMB Bank n.a. grew its stake in shares of Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 268 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Commercial Metals by 25.6% during the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 669 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Commercial Metals by 460.1% during the first quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company’s stock valued at $570,000 after acquiring an additional 10,172 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Commercial Metals by 21.2% during the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock valued at $73,000 after acquiring an additional 279 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Commercial Metals by 12.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company’s stock valued at $1,189,000 after acquiring an additional 2,846 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $57.02 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $57.26 and its two-hundred day moving average price is $51.05. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.53. The stock has a market capitalization of $6.38 billion, a P/E ratio of 183.94, a P/E/G ratio of 1.99 and a beta of 1.32.

Analysts Set New Price Targets

Several brokerages have recently commented on CMC. UBS Group increased their price target on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Wall Street Zen raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Finally, Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 20th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.