Commercial Metals (NYSE:CMC) Rating Lowered to Peer Perform at Wolfe Research

Commercial Metals (NYSE:CMC) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Wednesday, MarketBeat reports.

A number of other brokerages have also issued reports on CMC. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Bank of America cut their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.40.

Commercial Metals Trading Up 0.7 %

Shares of CMC stock opened at $52.96 on Wednesday. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $61.26. The firm has a market capitalization of $6.09 billion, a PE ratio of 11.03 and a beta of 1.14. The stock has a fifty day moving average of $52.83 and a two-hundred day moving average of $54.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Institutional Trading of Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMC. Boston Partners grew its holdings in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $50,132,000. Jacobs Levy Equity Management Inc. increased its stake in Commercial Metals by 388.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after purchasing an additional 237,477 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Commercial Metals by 1,701.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company’s stock worth $13,387,000 after buying an additional 215,131 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Commercial Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock valued at $632,577,000 after buying an additional 191,345 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.