Commercial Metals (NYSE:CMC) Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC decreased its position in Commercial Metals (NYSE:CMC) by 22.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,000 shares of the basic materials company’s stock after selling 92,260 shares during the quarter. Encompass Capital Advisors LLC owned 0.28% of Commercial Metals worth $17,872,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cim LLC acquired a new stake in Commercial Metals during the 4th quarter valued at $2,120,000. Russell Investments Group Ltd. boosted its position in Commercial Metals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after buying an additional 20,751 shares during the last quarter. Boston Partners grew its stake in shares of Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after acquiring an additional 3,063,241 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Commercial Metals by 61.9% during the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after acquiring an additional 25,642 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Commercial Metals by 388.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock worth $17,550,000 after acquiring an additional 237,477 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

CMC stock opened at $53.56 on Thursday. The stock’s 50 day simple moving average is $53.94 and its 200 day simple moving average is $54.70. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $61.26. The firm has a market cap of $6.16 billion, a P/E ratio of 11.16 and a beta of 1.15. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27.

Wall Street Analysts Forecast Growth

CMC has been the topic of several analyst reports. Bank of America dropped their price objective on 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 shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Finally, Wolfe Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.