Commercial Metals (NYSE:CMC)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group in a note issued to investors on Friday. Jefferies Group also issued estimates for Commercial Metals’ Q4 2018 earnings at $0.48 EPS.
Several other research firms also recently commented on CMC. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Bank of America downgraded Commercial Metals from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $25.36 to $28.00 in a report on Wednesday, March 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Commercial Metals from a “neutral” rating to an “overweight” rating in a report on Friday, March 9th. Goldman Sachs began coverage on Commercial Metals in a report on Tuesday, March 20th. They set a “sell” rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, March 20th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.63.
Commercial Metals (NYSE:CMC) opened at $20.39 on Friday. The company has a market capitalization of $2,378.13, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.33 and a beta of 1.21. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $26.72. The company has a current ratio of 3.11, a quick ratio of 2.07 and a debt-to-equity ratio of 0.55.
In other news, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the transaction, the executive vice president now directly owns 10 shares in the company, valued at approximately $250.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at $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 over the last quarter. Company insiders own 1.50% of the company’s stock.
Several large investors have recently made changes to their positions in CMC. First Trust Advisors LP increased its holdings in shares of Commercial Metals by 31.3% in the 3rd quarter. First Trust Advisors LP now owns 78,350 shares of the basic materials company’s stock valued at $1,491,000 after acquiring an additional 18,696 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $282,000. Russell Investments Group Ltd. increased its holdings in shares of Commercial Metals by 4,203.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after acquiring an additional 575,835 shares during the period. Quantbot Technologies LP purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $780,000. Finally, Cipher Capital LP purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $1,044,000. Institutional investors and hedge funds own 88.23% 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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