Stock of The Day: Commercial Metals Company’s Trend Up, Especially After Today’s 52-Week High Milestone

Stock of The Day: Commercial Metals Company's Trend Up, Especially After Today's 52 Week High Milestone

The stock of Commercial Metals Company (NYSE:CMC) hit a new 52-week high and has $30.18 target or 55.00% above today’s $19.47 share price. The 6 months bullish chart indicates low risk for the $2.24 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $30.18 price target is reached, the company will be worth $1.23 billion 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 1.82 million shares traded hands or 26.39% up from the average. Commercial Metals Company (NYSE:CMC) has risen 3.85% since April 7, 2016 and is uptrending. It has underperformed by 0.93% 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. $20 is the highest target while $15 is the lowest. The $16.61 average target is -14.69% below today’s ($19.47) stock price. Commercial Metals has been the topic of 16 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Monday, March 28 by Credit Suisse. On Wednesday, November 9 the stock rating was upgraded by Jefferies to “Buy”. As per Monday, March 21, the company rating was downgraded by Jefferies. Clarkson Platou downgraded the stock to “Sell” rating in Monday, June 27 report. The firm has “Sell” rating given on Monday, March 28 by CLSA. JP Morgan maintained Commercial Metals Company (NYSE:CMC) rating on Wednesday, December 30. JP Morgan has “Neutral” rating and $16 price target. The company was downgraded on Monday, October 31 by Macquarie Research. DA Davidson maintained Commercial Metals Company (NYSE:CMC) on Thursday, October 29 with “Buy” rating. The stock of Commercial Metals Company (NYSE:CMC) earned “Underperform” rating by Bank of America on Thursday, June 2. The firm earned “Buy” rating on Monday, August 17 by Credit Agricole.

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 decreased to 0.8 in Q2 2016. Its down 0.18, from 0.98 in 2016Q1. The ratio worsened, 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.
Wfg Advisors L P, a Texas-based fund reported 1 shares. Gargoyle Investment Advisor Ltd Llc has 29,761 shares for 0.19% of their US portfolio. Mount Lucas Management Ltd Partnership holds 65,857 shares or 0.19% of its portfolio. Teacher Retirement Sys Of Texas holds 0% or 16,252 shares in its portfolio. Qs Investors Lc owns 254,690 shares or 0.04% of their US portfolio. Hodges Cap Mgmt last reported 1.12% of its portfolio in the stock. Shelton Cap Mngmt holds 0.02% of its portfolio in Commercial Metals Company (NYSE:CMC) for 12,146 shares. Manufacturers Life Ins The holds 0.01% or 228,297 shares in its portfolio. Dimensional Fund Ltd Partnership holds 0.1% or 9.85 million shares in its portfolio. Moreover, Panagora Asset Management has 0.01% invested in Commercial Metals Company (NYSE:CMC) for 96,666 shares. Mesirow Fin Invest Mgmt holds 1.09 million shares or 1.07% of its portfolio. Hsbc Hldgs Public Ltd Com reported 13,664 shares or 0% of all its holdings. Comerica Bank & Trust holds 0.01% or 94,486 shares in its portfolio. Moreover, Goldman Sachs Group Inc Inc has 0.02% invested in Commercial Metals Company (NYSE:CMC) for 3.72M shares. Geode Capital Mgmt Limited Liability has invested 0.01% of its portfolio in Commercial Metals Company (NYSE:CMC).

Insider Transactions: Since May 13, 2016, the stock had 0 insider purchases, and 1 insider sale for $38,717 net activity. Shares for $38,717 were sold by MASSARO ANTHONY A on Friday, July 1. HICKEY ADAM R sold $85,000 worth of stock.

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: Nasdaq.com and their article: “Commercial Metals Company (CMC) Ex-Dividend Date Scheduled for November 07, 2016” published on November 04, 2016 as well as Seekingalpha.com‘s news article titled: “Commercial Metals (CMC) Q4 2016 Results – Earnings Call Transcript” with publication date: October 27, 2016.

CMC Company Profile

Commercial Metals Company, incorporated on August 29, 1946, and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network, including steel mini mills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mini mill, metal recycling facilities and marketing and distribution in the United States and in international markets. The Firm Americas Division operates utilizing three divisions: Americas Recycling, Americas Mills and Americas Fabrication. The Company’s International Division operates utilizing two divisions: International Mill and International Marketing and Distribution, which includes all marketing and distribution activities located outside the United States, as well as two United States trading and distribution divisions, CMC Cometals, located in Fort Lee, New Jersey and CMC Cometals-Steel, located in Irving, Texas. In October 2013, Commercial Metals Company completed the sale of Howell Metal Company, to Mueller Copper Tube Products, Inc., a subsidiary of Mueller Industries, Inc.

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