Public Employees Retirement System of Ohio Purchases 23,381 Shares of Commercial Metals Company $CMC

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Commercial Metals Company (CMC) by 888.7% during Q2, acquiring 23,381 shares and bringing its total holdings to 26,012 shares valued at $1.27 million.
• Several institutional investors also boosted their stakes in CMC, with 86.90% of the stock now owned by such investors, indicating strong institutional interest in the company.
• Analysts have a consensus rating of Hold on Commercial Metals, with an average price target of $60.39, reflecting mixed sentiment regarding the stock's performance.

Public Employees Retirement System of Ohio increased its stake in Commercial Metals Company (NYSE:CMC - Free Report) by 888.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,012 shares of the basic materials company's stock after purchasing an additional 23,381 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Commercial Metals were worth $1,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CMC. National Bank of Canada FI increased its stake 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 buying an additional 244 shares in the last quarter. UMB Bank n.a. lifted its stake in Commercial Metals by 51.9% in 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 during the last quarter. Wayfinding Financial LLC bought a new stake in Commercial Metals in the first quarter worth about $47,000. Fifth Third Bancorp lifted its stake 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 worth $73,000 after purchasing an additional 279 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Commercial Metals by 22.0% during the first quarter. Parallel Advisors LLC now owns 2,312 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 417 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CMC shares. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research note on Wednesday, June 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a report on Saturday, September 27th. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. UBS Group lifted their price objective on shares of Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen lowered shares of Commercial Metals from a "buy" rating to a "hold" rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and an average price target of $60.39.

Commercial Metals Price Performance

Shares of CMC opened at $58.56 on Friday. The firm has a market capitalization of $6.55 billion, a PE ratio of 188.90, a price-to-earnings-growth ratio of 2.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The company's fifty day moving average price is $56.60 and its 200-day moving average price is $50.67.

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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