Commercial Metals Company $CMC Stake Raised by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in shares of Commercial Metals Company (NYSE:CMC) by 23.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,550 shares of the basic materials company’s stock after purchasing an additional 1,438 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $369,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Commercial Metals by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company’s stock worth $1,189,000 after acquiring an additional 2,846 shares in the last quarter. GAMMA Investing LLC grew its holdings in Commercial Metals by 25.6% in the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company’s stock valued at $151,000 after buying an additional 669 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Commercial Metals by 460.1% in the first quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company’s stock worth $570,000 after acquiring an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Commercial Metals by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company’s stock worth $612,000 after purchasing an additional 325 shares during the period. Finally, Millennium Management LLC increased its stake in Commercial Metals by 124.3% during the first quarter. Millennium Management LLC now owns 926,718 shares of the basic materials company’s stock valued at $42,638,000 after acquiring an additional 513,630 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of several analyst reports. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a report on Wednesday, June 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a research note on Friday, June 20th. JPMorgan Chase & Co. increased their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.39.

Commercial Metals Stock Up 1.9%

NYSE:CMC opened at $58.74 on Monday. 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 52-week low of $37.92 and a 52-week high of $64.53. The company has a market cap of $6.57 billion, a PE ratio of 189.47, a PEG ratio of 2.05 and a beta of 1.33. The stock has a 50-day simple moving average of $56.11 and a 200 day simple moving average of $50.29.

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.