Zeke Capital Advisors LLC Buys 4,543 Shares of Commercial Metals (NYSE:CMC)

Zeke Capital Advisors LLC lifted its stake in Commercial Metals (NYSE:CMC) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,615 shares of the basic materials company’s stock after buying an additional 4,543 shares during the period. Zeke Capital Advisors LLC owned about 0.05% of Commercial Metals worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMC. Nuveen Asset Management LLC bought a new stake in shares of Commercial Metals in the second quarter valued at about $20,686,000. Clearbridge Investments LLC bought a new stake in shares of Commercial Metals in the first quarter valued at about $14,461,000. Balyasny Asset Management LLC bought a new stake in shares of Commercial Metals in the second quarter valued at about $13,506,000. Highline Capital Management L.P. lifted its stake in shares of Commercial Metals by 9.8% in the second 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. lifted its stake in shares of Commercial Metals by 3.2% in the second 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 and hedge funds own 94.86% of the company’s stock.

NYSE:CMC traded up $0.09 during mid-day trading on Friday, hitting $18.74. The company’s stock had a trading volume of 1,182,488 shares, compared to its average volume of 1,633,869. Commercial Metals has a fifty-two week low of $13.27 and a fifty-two week high of $21.05. The company has a current ratio of 3.00, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 2.44 and a beta of 1.76. The stock has a fifty day moving average of $17.48 and a 200-day moving average of $16.83.

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

About Commercial Metals

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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