Arizona State Retirement System lifted its position in Commercial Metals (NYSE:CMC) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,379 shares of the basic materials company’s stock after purchasing an additional 17,729 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Commercial Metals worth $1,778,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio boosted its position in shares of Commercial Metals by 176.5% in the 4th quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 3,000 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Commercial Metals in the 3rd quarter valued at about $101,000. Cerebellum GP LLC acquired a new stake in Commercial Metals during the 4th quarter worth approximately $129,000. Global X Management Co. LLC lifted its position in Commercial Metals by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 3,450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Commercial Metals by 38.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 2,239 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Commercial Metals (NYSE:CMC) opened at $25.59 on Tuesday. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $26.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The firm has a market capitalization of $2,956.61, a P/E ratio of 38.77 and a beta of 1.21.
A number of analysts have weighed in on CMC shares. Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $24.00 in a research report on Thursday, December 7th. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating in a research report on Friday. Finally, ValuEngine raised Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Four equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.88.
In other news, EVP Tracy L. Porter sold 13,601 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the sale, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $250.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy L. Porter sold 6,935 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the sale, the executive vice president now directly owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. Insiders sold a total of 60,536 shares of company stock valued at $1,541,915 over the last three months. Insiders own 1.50% of the company’s stock.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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