Commercial Metals Company $CMC Stock Position Lowered by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. lessened its position in Commercial Metals Company (NYSE:CMC) by 9.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,080 shares of the basic materials company’s stock after selling 2,630 shares during the period. Cascade Investment Advisors Inc.’s holdings in Commercial Metals were worth $1,276,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after buying an additional 244 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock worth $36,000 after buying an additional 268 shares in the last quarter. Signaturefd LLC raised its stake in shares of Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after buying an additional 302 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Commercial Metals in the 1st quarter worth $47,000. Finally, Fifth Third Bancorp raised its stake in shares of Commercial Metals by 21.2% in the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock worth $73,000 after buying an additional 279 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC stock opened at $57.02 on Monday. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 183.94, a P/E/G ratio of 1.99 and a beta of 1.32. The stock’s fifty day simple moving average is $57.26 and its 200-day simple moving average is $51.05.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CMC shares. Jefferies Financial Group restated a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. Morgan Stanley set a $57.50 target price on Commercial Metals in a report on Wednesday, June 25th. JPMorgan Chase & Co. lifted their target price on Commercial Metals from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. UBS Group lifted their target price on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their target price on Commercial Metals from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Commercial Metals presently has a consensus rating of “Hold” and an average target price of $60.39.

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.