KLP Kapitalforvaltning AS Raises Stock Holdings in Commercial Metals Company $CMC

KLP Kapitalforvaltning AS boosted its holdings in shares of Commercial Metals Company (NYSE:CMC) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,700 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Commercial Metals were worth $1,801,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMC. National Bank of Canada FI boosted its position in Commercial Metals by 80.3% during the first 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 in 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 worth $36,000 after purchasing an additional 268 shares in 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 worth $44,000 after purchasing an additional 302 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Commercial Metals during the first quarter valued at approximately $47,000. Finally, Fifth Third Bancorp raised its holdings in shares of 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. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

NYSE:CMC opened at $57.02 on Monday. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. 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 market cap of $6.38 billion, a PE ratio of 183.94, a P/E/G ratio of 1.99 and a beta of 1.32. The stock has a 50 day moving average price of $57.26 and a 200 day moving average price of $51.05.

Analysts Set New Price Targets

A number of equities analysts have commented on CMC shares. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating in a report on Friday, June 20th. Wall Street Zen raised Commercial Metals from a “hold” rating to a “buy” rating in a report on Sunday. Finally, UBS Group increased their target price on Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 13th. Five 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 an average rating of “Hold” and a consensus price target of $60.39.

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.