Unison Advisors LLC Takes Position in Commercial Metals (NYSE:CMC)

Unison Advisors LLC acquired a new position in shares of Commercial Metals (NYSE:CMC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,700 shares of the basic materials company's stock, valued at approximately $753,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Commercial Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company's stock valued at $632,577,000 after buying an additional 191,345 shares during the period. Boston Partners boosted its holdings 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 worth $180,752,000 after acquiring an additional 3,063,241 shares during the period. Principal Financial Group Inc. increased its holdings in Commercial Metals by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,774,666 shares of the basic materials company's stock worth $104,297,000 after acquiring an additional 76,742 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Commercial Metals by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company's stock valued at $71,283,000 after acquiring an additional 18,205 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Commercial Metals by 2.3% in the first quarter. Janus Henderson Group PLC now owns 1,159,769 shares of the basic materials company's stock valued at $68,160,000 after acquiring an additional 25,816 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Performance

NYSE CMC traded up $0.37 on Thursday, hitting $52.96. The stock had a trading volume of 761,306 shares, compared to its average volume of 854,300. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 11.03 and a beta of 1.14. The company's 50-day moving average is $52.83 and its two-hundred day moving average is $54.62. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMC. StockNews.com lowered shares of Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, June 20th. Bank of America reduced their price target 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. Wolfe Research downgraded shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $65.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $61.40.

Commercial Metals Company Profile

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.