Commercial Metals Company $CMC Shares Sold by Vest Financial LLC

Key Points

• Vest Financial LLC has reduced its stake in Commercial Metals Company by 13.9% during the second quarter, now holding 37,086 shares valued at approximately $1.81 million.
• Commercial Metals has experienced significant interest from institutional investors, with holdings rising 460.1% by SG Americas Securities and many others also increasing their stakes in the company.
• Commercial Metals' stock price recently increased by 2.4%, and analysts are showing varied sentiments with a consensus rating of "Hold" and an average target price of $61.39.

Vest Financial LLC cut its position in Commercial Metals Company (NYSE:CMC - Free Report) by 13.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,086 shares of the basic materials company's stock after selling 5,991 shares during the quarter. Vest Financial LLC's holdings in Commercial Metals were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMC. GAMMA Investing LLC boosted its holdings in Commercial Metals by 25.6% in the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 669 shares during the period. SG Americas Securities LLC boosted its holdings in Commercial Metals by 460.1% in the first quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after purchasing an additional 10,172 shares during the period. Fifth Third Bancorp boosted its holdings in Commercial Metals by 21.2% in the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Commercial Metals by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after purchasing an additional 2,846 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Commercial Metals by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after purchasing an additional 325 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 2.4%

Commercial Metals stock opened at $60.50 on Wednesday. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week 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 company has a market capitalization of $6.77 billion, a P/E ratio of 195.15, a PEG ratio of 2.07 and a beta of 1.32. The stock has a 50-day simple moving average of $57.60 and a 200-day simple moving average of $51.21.

Analysts Set New Price Targets

A number of research firms recently issued reports on CMC. Wall Street Zen upgraded Commercial Metals from a "hold" rating to a "buy" rating in a report on Sunday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Commercial Metals in a research report on Wednesday, October 8th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Morgan Stanley set a $57.50 target price on Commercial Metals in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and an average target price of $61.39.

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.

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