Cascade Investment Advisors Inc. Has $1.28 Million Holdings in Commercial Metals Company $CMC

Cascade Investment Advisors Inc. reduced its position in Commercial Metals Company (NYSE:CMC) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds also recently bought and sold shares of CMC. National Bank of Canada FI increased its position in 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 purchasing an additional 244 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 268 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 302 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Commercial Metals during the 1st quarter worth about $47,000. Finally, Fifth Third Bancorp boosted its stake in shares of Commercial Metals by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 279 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, October 8th. UBS Group upped their price target on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. increased their target price on Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Wall Street Zen upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Wells Fargo & Company increased their target price on Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Commercial Metals presently has an average rating of “Hold” and an average target price of $60.39.

Commercial Metals Stock Performance

CMC opened at $57.02 on Monday. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The company has a market cap of $6.38 billion, a P/E ratio of 183.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.32. The firm’s 50-day moving average price is $57.26 and its 200-day moving average price is $51.05.

Commercial Metals 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.