The stock of Commercial Metals Company (NYSE:CMC) is a huge mover today! The stock increased 4.57% or $0.97 on November 22, hitting $22.18. About 1.58 million 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.
The move comes after 9 months positive chart setup for the $2.58 billion company. It was reported on Nov, 22 by Barchart.com. We have $23.29 PT which if reached, will make NYSE:CMC worth $129.00 million more.
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. Commercial Metals has been the topic of 18 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Credit Agricole initiated Commercial Metals Company (NYSE:CMC) on Monday, August 17 with “Buy” rating. On Monday, March 28 the stock rating was maintained by Credit Suisse with “Neutral”. The firm earned “Hold” rating on Monday, March 21 by Jefferies. On Wednesday, September 16 the stock rating was maintained by Jefferies with “Buy”. Clarkson Platou downgraded the stock to “Sell” rating in Monday, June 27 report. The firm has “Buy” rating given on Wednesday, September 2 by Zacks. The firm earned “Neutral” rating on Friday, November 11 by DA Davidson. CLSA downgraded Commercial Metals Company (NYSE:CMC) on Monday, March 28 to “Sell” rating. The stock of Commercial Metals Company (NYSE:CMC) has “Neutral” rating given on Monday, August 22 by Citigroup. The rating was maintained by DA Davidson on Thursday, October 29 with “Buy”.
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 improved, 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.
Moreover, Patten Group Inc has 0% invested in Commercial Metals Company (NYSE:CMC) for 116 shares. Springbok Lc holds 854 shares or 0% of its portfolio. Northcoast Asset Mgmt Ltd has invested 0.06% of its portfolio in Commercial Metals Company (NYSE:CMC). Citigroup last reported 0% of its portfolio in the stock. Robeco Institutional Asset Mngmt Bv, a Netherlands-based fund reported 346,700 shares. Dreman Value Mgmt L L C last reported 785 shares in the company. Ameritas Inv Prns holds 0.03% of its portfolio in Commercial Metals Company (NYSE:CMC) for 27,042 shares. Retail Bank Of Montreal Can has 0% invested in the company for 117,428 shares. Moreover, Commonwealth Of Pennsylvania School Empls Retrmt has 0.01% invested in Commercial Metals Company (NYSE:CMC) for 22,047 shares. Tci Wealth Advsr last reported 93 shares in the company. Dimensional Fund Advsrs L P holds 0.1% or 9.85 million shares in its portfolio. Sit Inv Associate has invested 0% of its portfolio in Commercial Metals Company (NYSE:CMC). The Georgia-based Vident Investment Advisory Limited Liability Company has invested 0.36% in Commercial Metals Company (NYSE:CMC). Neuberger Berman Group Inc Inc Limited holds 16,937 shares or 0% of its portfolio. Voya Inv Mgmt Ltd Llc last reported 2.53 million shares in the company.
Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 4 sales for $1.24 million net activity. ALVARADO JOSEPH also sold $1.00M worth of Commercial Metals Company (NYSE:CMC) shares. HATTEN TERRY P. also sold $86,259 worth of Commercial Metals Company (NYSE:CMC) on Wednesday, November 9. BATCHELOR ADAM B. sold 5,372 shares worth $109,449. $38,717 worth of Commercial Metals Company (NYSE:CMC) was sold by MASSARO ANTHONY A.
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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