The stock of Commercial Metals Company (NYSE:CMC) hit a new 52-week high and has $23.28 target or 5.00% above today’s $22.17 share price. The 7 months bullish chart indicates low risk for the $2.57B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $23.28 price target is reached, the company will be worth $128.50M 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 900,657 shares traded hands. Commercial Metals Company (NYSE:CMC) has risen 26.75% since April 25, 2016 and is uptrending. It has outperformed by 20.74% the S&P500.
Analysts await Commercial Metals Company (NYSE:CMC) to report earnings on January, 3. They expect $0.18 EPS, down 18.18% or $0.04 from last year’s $0.22 per share. CMC’s profit will be $20.87M for 30.79 P/E if the $0.18 EPS becomes a reality. After $0.22 actual EPS reported by Commercial Metals Company for the previous quarter, Wall Street now forecasts -18.18% negative EPS growth.
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. Citigroup initiated Commercial Metals Company (NYSE:CMC) on Monday, August 22 with “Neutral” rating. The rating was reinitiated by Jefferies with “Buy” on Wednesday, January 13. The rating was upgraded by Zacks on Wednesday, September 2 to “Buy”. Jefferies upgraded the shares of CMC in a report on Wednesday, November 9 to “Buy” rating. The firm has “Neutral” rating given on Wednesday, December 30 by JP Morgan. The firm has “Buy” rating given on Monday, August 17 by Credit Agricole. Jefferies maintained it with “Buy” rating and $20 target price in Wednesday, September 16 report. The rating was downgraded by Bank of America to “Underperform” on Thursday, June 2. The stock of Commercial Metals Company (NYSE:CMC) earned “Neutral” rating by Macquarie Research on Monday, October 31. As per Monday, March 28, the company rating was maintained by Credit Suisse.
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 2016 Q2. Its up 0.22, from 0.8 in 2016Q1. The ratio is positive, 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.
Barrow Hanley Mewhinney And Strauss Ltd Liability accumulated 0.01% or 264,468 shares. First Citizens National Bank & Trust & holds 0.03% or 18,515 shares in its portfolio. Teacher Retirement Of Texas has invested 0% of its portfolio in Commercial Metals Company (NYSE:CMC). Arizona State Retirement System, a Arizona-based fund reported 44,720 shares. Panagora Asset holds 96,666 shares or 0.01% of its portfolio. Van Eck Assocs Corp holds 2.79M shares or 0.24% of its portfolio. Tfs Lc holds 0.11% of its portfolio in Commercial Metals Company (NYSE:CMC) for 34,127 shares. Landscape Cap Ltd Llc accumulated 32,900 shares or 0.07% of the stock. Parametric Port Assoc Limited Liability has invested 0.02% of its portfolio in Commercial Metals Company (NYSE:CMC). The California-based Whittier Trust has invested 0% in Commercial Metals Company (NYSE:CMC). Prudential Fincl Incorporated has invested 0% of its portfolio in Commercial Metals Company (NYSE:CMC). The Kansas-based Dean Mgmt has invested 2.07% in Commercial Metals Company (NYSE:CMC). Moreover, Citigroup has 0% invested in Commercial Metals Company (NYSE:CMC) for 37,223 shares. The Switzerland-based Swiss State Bank has invested 0.01% in Commercial Metals Company (NYSE:CMC). Checchi Capital Advisers Ltd Co holds 129 shares or 0% of its portfolio.
Insider Transactions: Since July 1, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.24 million net activity. HATTEN TERRY P. sold $86,259 worth of stock or 4,313 shares. Another trade for 50,000 shares valued at $1.00M was made by ALVARADO JOSEPH on Wednesday, November 9. Shares for $38,717 were sold by MASSARO ANTHONY A. BATCHELOR ADAM B. also sold $109,449 worth of Commercial Metals Company (NYSE:CMC) shares.
More news for Commercial Metals Company (NYSE:CMC) were recently published by: Nasdaq.com, which released: “Commercial Metals Company (CMC) Ex-Dividend Date Scheduled for November 07, 2016” on November 04, 2016. Zacks.com‘s article titled: “Commercial Metals (CMC) Catches Eye: Stock Jumps 20.3%” and published on November 10, 2016 is yet another important article.
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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