Commercial Metals (CMC) Shares Bought by Texas Permanent School Fund
Texas Permanent School Fund increased its holdings in shares of Commercial Metals (NYSE:CMC) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 76,976 shares of the basic materials company’s stock after acquiring an additional 3,350 shares during the quarter. Texas Permanent School Fund’s holdings in Commercial Metals were worth $1,233,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Commercial Metals by 1,502.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 739,003 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 692,873 shares during the period. Quantamental Technologies LLC bought a new position in shares of Commercial Metals in the 4th quarter valued at about $47,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Commercial Metals in the 4th quarter valued at about $48,000. Oppenheimer Asset Management Inc. bought a new position in shares of Commercial Metals in the 4th quarter valued at about $107,000. Finally, GSA Capital Partners LLP bought a new position in shares of Commercial Metals in the 3rd quarter valued at about $207,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CMC traded up $0.22 during trading on Friday, reaching $16.01. 18,226 shares of the stock were exchanged, compared to its average volume of 1,607,334. Commercial Metals has a 12 month low of $15.23 and a 12 month high of $24.95. The stock has a market cap of $1.90 billion, a PE ratio of 10.77, a P/E/G ratio of 0.81 and a beta of 1.31. The company has a quick ratio of 1.58, a current ratio of 2.68 and a debt-to-equity ratio of 0.88.
Several brokerages have recently weighed in on CMC. ValuEngine upgraded Commercial Metals from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th. Longbow Research set a $25.00 price target on Commercial Metals and gave the stock a “buy” rating in a report on Monday, December 3rd. Cowen started coverage on Commercial Metals in a report on Tuesday, January 8th. They set a “market perform” rating and a $17.00 price objective for the company. Macquarie set a $21.00 price objective on Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, January 8th. Finally, Citigroup set a $18.00 price objective on Commercial Metals and gave the stock a “hold” rating in a report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and an average price target of $21.11.
Commercial Metals Profile
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.
Featured Story: Marijuana Stocks Future Looks Bright
Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals (NYSE:CMC).
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.