Notable Mover: Is Commercial Metals Company a Buy? The Stock Reaches 52-Week High Today

Notable Mover: Is Commercial Metals Company a Buy? The Stock Reaches 52 Week High Today

The stock of Commercial Metals Company (NYSE:CMC) hit a new 52-week high and has $22.45 target or 3.00% above today’s $21.80 share price. The 6 months bullish chart indicates low risk for the $2.53 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $22.45 price target is reached, the company will be worth $75.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 200,950 shares traded hands. Commercial Metals Company (NYSE:CMC) has risen 15.90% since April 20, 2016 and is uptrending. It has outperformed by 11.35% the S&P500.

Commercial Metals Company (NYSE:CMC) Ratings Coverage

Out of 11 analysts covering Commercial Metals (NYSE:CMC), 4 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 36% are positive. $22 is the highest target while $15 is the lowest. The $17.17 average target is -21.24% below today’s ($21.8) stock price. Commercial Metals has been the topic of 18 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, March 21 by Jefferies. The rating was initiated by Citigroup with “Neutral” on Monday, August 22. As per Wednesday, September 2, the company rating was upgraded by Zacks. Credit Agricole initiated Commercial Metals Company (NYSE:CMC) on Monday, August 17 with “Buy” rating. Citigroup upgraded the stock to “Buy” rating in Wednesday, November 9 report. The rating was downgraded by Clarkson Platou to “Sell” on Monday, June 27. The stock of Commercial Metals Company (NYSE:CMC) has “Buy” rating given on Thursday, October 29 by DA Davidson. The company was downgraded on Thursday, June 2 by Bank of America. The stock of Commercial Metals Company (NYSE:CMC) earned “Neutral” rating by DA Davidson on Friday, November 11. The rating was maintained by Credit Suisse with “Neutral” on Monday, March 28.

According to Zacks Investment Research, “Commercial Metals Company has three segments – manufacturing, recycling, and marketing and trading. Activities are primarily concerned with metals related activities. The manufacturing segment is the dominant and most rapidly expanding segment in terms of assets employed, capital expenditures, operating profit and number of employees. The recycling segment is engaged in processing secondary, or scrap, metals for further recycling into new metal products. The marketing and trading segment buys and sells primary and secondary metals, and fabricated metals.”

Insitutional Activity: The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.22, from 0.8 in 2016Q1. The ratio increased, as 34 funds sold all Commercial Metals Company shares owned while 82 reduced positions. 26 funds bought stakes while 67 increased positions. They now own 100.85 million shares or 5.56% less from 106.79 million shares in 2016Q1.
Jane Street Ltd Co has invested 0% of its portfolio in Commercial Metals Company (NYSE:CMC). Nationwide Fund Advsrs owns 367,321 shares or 0.03% of their US portfolio. Weaver C Barksdale Associates last reported 0.04% of its portfolio in the stock. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys last reported 0.01% of its portfolio in the stock. Twin Cap Mgmt has 0.12% invested in the company for 91,661 shares. Metropolitan Life Company last reported 0.02% of its portfolio in the stock. Winslow Evans Crocker holds 66 shares or 0% of its portfolio. Kennedy Capital Mgmt owns 232,198 shares or 0.08% of their US portfolio. Suntrust Banks holds 0.01% or 92,122 shares in its portfolio. Moreover, Bnp Paribas Arbitrage has 0.01% invested in Commercial Metals Company (NYSE:CMC) for 66,963 shares. Dupont Cap Mngmt holds 0.03% of its portfolio in Commercial Metals Company (NYSE:CMC) for 82,181 shares. Acadian Asset Ltd Limited Liability Company last reported 2.41 million shares in the company. Blackrock, a New York-based fund reported 80,193 shares. California State Teachers Retirement has invested 0.01% of its portfolio in Commercial Metals Company (NYSE:CMC). Axa has 0.02% invested in the company for 270,700 shares.

Insider Transactions: Since July 1, 2016, the stock had 0 insider purchases, and 4 sales for $1.24 million net activity. 5,372 shares with value of $109,449 were sold by BATCHELOR ADAM B. on Friday, November 11. Shares for $86,259 were sold by HATTEN TERRY P. on Wednesday, November 9. Shares for $38,717 were sold by MASSARO ANTHONY A. 50,000 shares were sold by ALVARADO JOSEPH, worth $1.00 million on Wednesday, November 9.

More notable recent Commercial Metals Company (NYSE:CMC) news were published by: Prnewswire.com which released: “Commercial Metals Company Signs Definitive Asset Purchase Agreement for …” on October 26, 2016, also Prnewswire.com with their article: “Commercial Metals Company Announces Quarterly Dividend Of $0.12 Per Share” published on October 25, 2016, Nasdaq.com published: “Commercial Metals Company Q4 Income Drops 92%” on October 27, 2016. More interesting news about Commercial Metals Company (NYSE:CMC) were released by: Seekingalpha.com and their article: “Commercial Metals (CMC) Q4 2016 Results – Earnings Call Transcript” published on October 27, 2016 as well as Nasdaq.com‘s news article titled: “Commercial Metals Company (CMC) Ex-Dividend Date Scheduled for November 07, 2016” with publication date: November 04, 2016.

CMC Company Profile

Commercial Metals Company (CMC), incorporated on August 29, 1946, together with its subsidiaries, is engaged in manufacturing, recycling and marketing steel and metal products, related materials and services through a network, including steel mills, such as minimills or micro-mills, steel fabrication and processing facilities, construction-related product warehouses, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets. The Firm operates in five business divisions across two geographic divisions, which include CMC Americas Division, which includes three divisions, including Americas Recycling, Americas Mills and Americas Fabrication, and CMC International Division, which includes two divisions, including International Mill, and International Marketing and Distribution.

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