Wolfe Research downgraded shares of Commercial Metals (NYSE:CMC – Free Report) from an outperform rating to a peer perform rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.
CMC has been the subject of several other reports. Bank of America reduced their price objective on Commercial Metals from $70.00 to $69.00 and set a buy rating for the company in a research report on Wednesday, June 26th. StockNews.com cut Commercial Metals from a buy rating to a hold rating in a research report on Thursday, June 20th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a buy rating and a $65.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $61.40.
Read Our Latest Report on Commercial Metals
Commercial Metals Stock Up 1.0 %
Institutional Trading of Commercial Metals
Institutional investors and hedge funds have recently bought and sold shares of the stock. Cim LLC bought a new stake in Commercial Metals during the fourth quarter worth about $2,120,000. Russell Investments Group Ltd. lifted its position in shares of Commercial Metals by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after buying an additional 20,751 shares during the last quarter. Boston Partners lifted its position in shares of Commercial Metals by 23,390.7% in the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after buying an additional 3,063,241 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Commercial Metals by 61.9% in the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock valued at $3,941,000 after buying an additional 25,642 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after buying an additional 237,477 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.
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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