Commercial Metals Company $CMC Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has increased its holdings in Commercial Metals Company (CMC) by 16.8%, owning approximately 111,674 shares worth $5.1 million.
• Several institutional investors, including Wealth Enhancement Advisory Services and Millennium Management, have made significant increases in their stakes, reflecting strong interest in the company.
• Recent analysts' ratings have varied, with BMO Capital Markets reducing its price target from $57.00 to $55.00, while UBS Group raised theirs to $56.00, indicating a mix of outlooks on the stock’s performance.

Voya Investment Management LLC boosted its position in Commercial Metals Company (NYSE:CMC - Free Report) by 16.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,674 shares of the basic materials company's stock after acquiring an additional 16,084 shares during the quarter. Voya Investment Management LLC owned 0.10% of Commercial Metals worth $5,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Commercial Metals by 14.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company's stock worth $191,461,000 after acquiring an additional 539,309 shares during the period. Victory Capital Management Inc. lifted its position 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 last quarter. American Century Companies Inc. lifted its position in shares of Commercial Metals by 86.1% during the first 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 in the last quarter. Invesco Ltd. boosted its holdings in Commercial Metals by 37.1% in the 1st quarter. Invesco Ltd. now owns 1,568,021 shares of the basic materials company's stock valued at $72,145,000 after purchasing an additional 424,313 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Commercial Metals by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company's stock worth $47,552,000 after buying an additional 56,875 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 1.0%

Shares of Commercial Metals stock traded down $0.56 during mid-day trading on Monday, hitting $57.62. The stock had a trading volume of 1,400,035 shares, compared to its average volume of 983,438. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. 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 firm has a 50-day moving average of $55.65 and a two-hundred day moving average of $49.92. The firm has a market cap of $6.45 billion, a P/E ratio of 185.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The business had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the company earned $1.02 earnings per share. Commercial Metals's quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMC. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. UBS Group lifted their price target 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. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.