Commercial Metals (NYSE:CMC) Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its stake in Commercial Metals (NYSE:CMC - Free Report) by 21.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,727 shares of the basic materials company's stock after purchasing an additional 13,196 shares during the period. Sei Investments Co. owned about 0.07% of Commercial Metals worth $4,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Commercial Metals in the 1st quarter valued at about $28,000. SYSTM Wealth Solutions LLC purchased a new stake in shares of Commercial Metals in the first quarter valued at approximately $44,000. Archer Investment Corp acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC lifted its position in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock valued at $86,000 after buying an additional 282 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Commercial Metals in the 2nd quarter valued at $129,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CMC. Bank of America decreased their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a "buy" rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a "buy" rating and a $65.00 price objective for the company. StockNews.com downgraded Commercial Metals from a "buy" rating to a "hold" rating in a research report on Thursday, June 20th. Finally, Wolfe Research raised Commercial Metals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.40.

Commercial Metals Price Performance

Shares of NYSE:CMC traded down $0.53 during trading on Thursday, reaching $52.66. The stock had a trading volume of 640,452 shares, compared to its average volume of 856,009. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The business has a fifty day moving average price of $53.62 and a 200-day moving average price of $54.75. The stock has a market cap of $6.06 billion, a PE ratio of 10.94 and a beta of 1.15. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26.

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.