Cerebellum GP LLC Purchases Shares of 6,047 Commercial Metals (NYSE:CMC)

Cerebellum GP LLC purchased a new stake in Commercial Metals (NYSE:CMC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,047 shares of the basic materials company’s stock, valued at approximately $129,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CMC. Nuveen Asset Management LLC purchased a new stake in Commercial Metals in the 2nd quarter valued at about $20,686,000. Clearbridge Investments LLC purchased a new stake in Commercial Metals in the 1st quarter valued at about $14,461,000. Balyasny Asset Management LLC purchased a new stake in Commercial Metals in the 2nd quarter valued at about $13,506,000. Highline Capital Management L.P. grew its holdings in Commercial Metals by 9.8% in the 2nd quarter. Highline Capital Management L.P. now owns 4,434,008 shares of the basic materials company’s stock valued at $79,147,000 after buying an additional 395,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Commercial Metals by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,835,470 shares of the basic materials company’s stock valued at $211,263,000 after buying an additional 368,873 shares during the period. Institutional investors own 94.86% of the company’s stock.

Shares of NYSE:CMC opened at $19.24 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.86 and a current ratio of 3.00. Commercial Metals has a 1 year low of $13.27 and a 1 year high of $21.05. The stock has a market capitalization of $2.21 billion, a P/E ratio of 10.30, a PEG ratio of 2.43 and a beta of 1.76. The stock has a 50-day simple moving average of $17.33 and a 200-day simple moving average of $16.81.

CMC has been the subject of a number of research reports. Deutsche Bank cut Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Thursday, July 11th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $22.00 target price on Commercial Metals and gave the stock a “buy” rating in a report on Monday, September 23rd. ValuEngine upgraded Commercial Metals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group cut Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a report on Sunday, September 22nd. Finally, TheStreet upgraded Commercial Metals from a “c+” rating to a “b” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Commercial Metals currently has a consensus rating of “Hold” and a consensus target price of $19.21.

Commercial Metals Company 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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