111 Capital Makes New $494,000 Investment in Commercial Metals Company $CMC

Key Points

• 111 Capital has made a new investment of approximately $494,000 in Commercial Metals Company (CMC), acquiring 10,099 shares during the second quarter.
• Several institutional investors have also increased their stakes in CMC, with Nuveen LLC purchasing a stake worth around $44.35 million and Pacer Advisors Inc. increasing its stake by over 4,372% in the same period.
• Commercial Metals Company has received mixed analyst ratings, with a current average target price of $60.39 and varying recommendations from different financial institutions regarding its market performance.

111 Capital bought a new position in Commercial Metals Company (NYSE:CMC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,099 shares of the basic materials company's stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMC. Nuveen LLC purchased a new stake in Commercial Metals in the 1st quarter worth approximately $44,345,000. Pacer Advisors Inc. grew its stake in Commercial Metals by 4,372.6% in the 1st quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company's stock worth $34,944,000 after acquiring an additional 742,503 shares during the period. American Century Companies Inc. grew its stake in Commercial Metals by 86.1% in the 1st quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company's stock worth $73,030,000 after acquiring an additional 734,265 shares during the period. Victory Capital Management Inc. grew its stake in shares of Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock valued at $142,139,000 after buying an additional 666,886 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Commercial Metals by 14.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company's stock valued at $191,461,000 after buying an additional 539,309 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 0.2%

NYSE:CMC opened at $58.56 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The business's 50-day simple moving average is $56.60 and its 200 day simple moving average is $50.70. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 188.90, a price-to-earnings-growth ratio of 2.05 and a beta of 1.32.

Analyst Ratings Changes

Several analysts have recently issued reports on CMC shares. JPMorgan Chase & Co. boosted their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company boosted their price objective on shares of Commercial Metals from $61.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. BMO Capital Markets reissued a "market perform" rating and set a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. UBS Group boosted their price objective on shares of Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.39.

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.

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