Commercial Metals (NYSE:CMC) has earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.14.
CMC has been the topic of several analyst reports. Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating in a report on Friday, March 9th. Finally, ValuEngine raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
Shares of Commercial Metals (CMC) opened at $25.36 on Wednesday. The firm has a market cap of $2,984.60, a PE ratio of 38.42 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $26.72.
In other Commercial Metals news, CAO Adam R. Hickey sold 20,000 shares of Commercial Metals stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $25.50, for a total transaction of $510,000.00. Following the completion of the transaction, the chief accounting officer now owns 15,632 shares in the company, valued at $398,616. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total transaction of $174,345.90. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $251.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,536 shares of company stock worth $1,541,915. 1.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio raised its position in Commercial Metals by 176.5% during the fourth quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 3,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Commercial Metals during the third quarter worth about $101,000. Cerebellum GP LLC acquired a new position in Commercial Metals during the fourth quarter worth about $129,000. Global X Management Co. LLC raised its position in Commercial Metals by 75.2% during the fourth quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 3,450 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Commercial Metals by 38.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 2,239 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.
About Commercial Metals
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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