Blue Trust Inc. Acquires 675 Shares of Commercial Metals Company $CMC

Blue Trust Inc. boosted its holdings in Commercial Metals Company (NYSE:CMC) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,687 shares of the basic materials company’s stock after acquiring an additional 675 shares during the period. Blue Trust Inc.’s holdings in Commercial Metals were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CMC. UMB Bank n.a. raised its position in shares of Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 268 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 669 shares during the period. SG Americas Securities LLC raised its holdings in Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company’s stock valued at $570,000 after acquiring an additional 10,172 shares during the period. Fifth Third Bancorp raised its holdings in Commercial Metals by 21.2% in the 1st 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 period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Commercial Metals by 12.4% during 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 purchasing an additional 2,846 shares during the period. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price target on shares of Commercial Metals from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a report on Wednesday, June 25th. Finally, Wells Fargo & Company raised their price objective on Commercial Metals from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and an average target price of $61.39.

Commercial Metals Stock Performance

Commercial Metals stock opened at $59.06 on Tuesday. The stock has a market cap of $6.61 billion, a PE ratio of 190.52, a P/E/G ratio of 1.99 and a beta of 1.32. 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 business’s 50-day moving average price is $57.43 and its two-hundred day moving average price is $51.14. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53.

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.