JPMorgan Chase & Co. upgraded shares of Commercial Metals (NYSE:CMC) from a neutral rating to an overweight rating in a research report report published on Friday, March 9th, MarketBeat Ratings reports.
Several other analysts have also recently issued reports on the stock. ValuEngine raised shares of Commercial Metals from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Commercial Metals from a hold rating to a sell rating in a research note on Thursday, December 28th. Finally, Bank of America raised shares of Commercial Metals from a neutral rating to a buy rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Thursday, December 7th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $22.38.
Commercial Metals (CMC) traded up $0.32 during mid-day trading on Friday, hitting $24.63. 5,097,461 shares of the stock were exchanged, compared to its average volume of 1,691,033. The stock has a market capitalization of $2,835.32, a PE ratio of 37.32, a P/E/G ratio of 0.40 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a twelve month low of $17.05 and a twelve month high of $26.72.
Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company earned $0.06 EPS. Commercial Metals’s revenue was up 24.6% compared to the same quarter last year. equities research analysts expect that Commercial Metals will post 1.45 earnings per share for the current year.
In other news, EVP Tracy L. Porter sold 6,935 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $251.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tracy L. Porter sold 13,601 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the sale, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $250.40. The disclosure for this sale can be found here. In the last three months, insiders sold 60,536 shares of company stock valued at $1,541,915. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of CMC. Millennium Management LLC purchased a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $34,374,000. Deprince Race & Zollo Inc. lifted its holdings in shares of Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after acquiring an additional 1,117,876 shares during the last quarter. BlueCrest Capital Management Ltd lifted its holdings in shares of Commercial Metals by 1,334.4% in the 4th quarter. BlueCrest Capital Management Ltd now owns 649,676 shares of the basic materials company’s stock worth $13,851,000 after acquiring an additional 604,384 shares during the last quarter. Systematic Financial Management LP acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $12,477,000. Finally, Russell Investments Group Ltd. lifted 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 worth $11,218,000 after acquiring an additional 575,835 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.
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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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