Commercial Metals (NYSE:CMC) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.
Other analysts have also recently issued reports about the stock. Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $21.00 to $24.00 in a research report on Thursday, December 7th. ValuEngine raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Four analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Commercial Metals presently has a consensus rating of “Hold” and an average price target of $21.88.
Shares of Commercial Metals (NYSE CMC) opened at $25.35 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $26.72. The firm has a market cap of $2,939.12, a price-to-earnings ratio of 38.41 and a beta of 1.21.
In other Commercial Metals news, CAO Adam R. Hickey sold 20,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $25.50, for a total value of $510,000.00. Following the transaction, the chief accounting officer now owns 15,632 shares in the company, valued at approximately $398,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy L. Porter sold 6,935 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total transaction of $174,345.90. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at approximately $251.40. The disclosure for this sale can be found here. Insiders sold a total of 60,536 shares of company stock worth $1,541,915 in the last quarter. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Commercial Metals by 2.3% in the 4th quarter. BlackRock Inc. now owns 14,686,246 shares of the basic materials company’s stock worth $313,111,000 after buying an additional 333,388 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Commercial Metals by 0.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock worth $85,090,000 after buying an additional 35,385 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Commercial Metals by 9.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 3,293,028 shares of the basic materials company’s stock worth $70,207,000 after buying an additional 274,883 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Commercial Metals by 36.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,035,305 shares of the basic materials company’s stock worth $38,732,000 after buying an additional 541,829 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $34,374,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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