Commercial Metals Company (NYSE:CMC) Can’t Be More Risky. Short Interest Increased

June 26, 2018 - By Adrian Erickson

Commercial Metals Company (NYSE:CMC) Logo

Investors sentiment decreased to 1.34 in 2018 Q1. Its down 0.10, from 1.44 in 2017Q4. It fall, as 21 investors sold Commercial Metals Company shares while 65 reduced holdings. 42 funds opened positions while 73 raised stakes. 102.89 million shares or 3.17% more from 99.73 million shares in 2017Q4 were reported.
New York-based Renaissance Technology Ltd Liability Corp has invested 0.01% in Commercial Metals Company (NYSE:CMC). The New York-based Glob X Company Ltd Company has invested 0.01% in Commercial Metals Company (NYSE:CMC). Jpmorgan Chase & Comm stated it has 0% of its portfolio in Commercial Metals Company (NYSE:CMC). 631,327 were reported by Federated Investors Pa. Rhumbline Advisers reported 213,409 shares. Rothschild Asset Management holds 0.19% or 850,459 shares in its portfolio. Numerixs Inv Technologies Inc stated it has 0.05% in Commercial Metals Company (NYSE:CMC). Cubist Systematic Strategies Ltd Co has invested 0.09% in Commercial Metals Company (NYSE:CMC). Pub Employees Retirement System Of Ohio invested in 0% or 8,500 shares. Aqr Mngmt Limited Liability Corporation holds 211,596 shares or 0% of its portfolio. South Dakota Council holds 0.02% or 36,100 shares. Tocqueville Asset Lp accumulated 70,000 shares. 2.83 million are held by Goldman Sachs Gp Inc. Highbridge Capital Lc owns 18,120 shares for 0.01% of their portfolio. Teachers Retirement Of The State Of Kentucky accumulated 25,004 shares.

Since January 16, 2018, it had 0 insider buys, and 3 insider sales for $1.54 million activity. Porter Tracy L had sold 20,536 shares worth $514,950 on Tuesday, January 16.

The stock of Commercial Metals Company (NYSE:CMC) registered an increase of 10.59% in short interest. CMC’s total short interest was 4.28M shares in June as published by FINRA. Its up 10.59% from 3.87 million shares, reported previously. With 1.55M shares average volume, it will take short sellers 3 days to cover their CMC’s short positions. The short interest to Commercial Metals Company’s float is 3.73%.

The stock decreased 5.48% or $1.28 during the last trading session, reaching $22.08. About 2.13 million shares traded or 54.34% up from the average. Commercial Metals Company (NYSE:CMC) has risen 26.05% since June 26, 2017 and is uptrending. It has outperformed by 13.48% the S&P500.

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. The company has market cap of $2.58 billion. It operates through five divisions: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution. It has a 45.81 P/E ratio. The Americas Recycling segment processes and sells scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.

Commercial Metals Company (NYSE:CMC) Ratings Coverage

Among 9 analysts covering Commercial Metals Company (NYSE:CMC), 5 have Buy rating, 2 Sell and 2 Hold. Therefore 56% are positive. Commercial Metals Company has $30.0 highest and $24 lowest target. $25’s average target is 13.22% above currents $22.08 stock price. Commercial Metals Company had 12 analyst reports since January 9, 2018 according to SRatingsIntel. The stock of Commercial Metals Company (NYSE:CMC) has “Overweight” rating given on Friday, March 9 by JP Morgan. Citigroup downgraded the shares of CMC in report on Tuesday, April 3 to “Neutral” rating. The rating was maintained by Deutsche Bank with “Buy” on Thursday, March 29. The rating was upgraded by Macquarie Research on Thursday, May 17 to “Neutral”. The stock has “Neutral” rating by Citigroup on Tuesday, June 12. Jefferies maintained Commercial Metals Company (NYSE:CMC) rating on Thursday, March 22. Jefferies has “Buy” rating and $2800 target. The rating was downgraded by Bank of America on Tuesday, June 19 to “Underperform”. Bank of America downgraded the stock to “Hold” rating in Wednesday, March 14 report. The firm has “Buy” rating given on Friday, March 9 by J.P. Morgan. Jefferies maintained the stock with “Buy” rating in Tuesday, January 9 report.

Another recent and important Commercial Metals Company (NYSE:CMC) news was published by Streetinsider.com which published an article titled: “BofA/Merrill Lynch Downgrades Commercial Metals Company (CMC) to Underperform” on June 19, 2018.

Commercial Metals Company (NYSE:CMC) Institutional Positions Chart

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