Blue Trust Inc. Acquires 675 Shares of Commercial Metals Company $CMC

Blue Trust Inc. increased its holdings in Commercial Metals Company (NYSE:CMC) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,687 shares of the basic materials company’s stock after purchasing an additional 675 shares during the quarter. Blue Trust Inc.’s holdings in Commercial Metals were worth $376,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI grew its position 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 valued at $25,000 after buying an additional 244 shares during the last quarter. UMB Bank n.a. boosted its position in 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 during the last quarter. Signaturefd LLC boosted its position in Commercial Metals by 51.4% during the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 302 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Commercial Metals during the first quarter valued at $47,000. Finally, Fifth Third Bancorp boosted its position in 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 during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CMC shares. BMO Capital Markets restated a “market perform” rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Wells Fargo & Company increased their price target on Commercial Metals from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Wall Street Zen raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group increased their target price on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and an average target price of $61.39.

Commercial Metals Stock Performance

Shares of CMC opened at $59.06 on Tuesday. 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 stock has a 50 day moving average price of $57.43 and a two-hundred day moving average price of $51.14. The firm has a market capitalization of $6.61 billion, a P/E ratio of 190.52, a P/E/G ratio of 1.99 and a beta of 1.32. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53.

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.