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Commercial Metals Company (CMC) Rating Lowered to Sell at Zacks Investment Research
17 July 2017, 04:23 | Justin Tyler
The institutional investor owned 12,572,181 shares of the basic materials company's stock after selling 2,174,135 shares during the period. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Meadow Creek Investment Management LLC increased its stake in shares of Commercial Metals Company by 13.6% in the first quarter. Breton Hill Capital Ltd. now owns 37,326 shares of the basic materials company's stock worth $714,000 after buying an additional 2,446 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Commercial Metals Company by 29.3% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company's stock valued at $134,000 after buying an additional 840 shares in the last quarter. Renaissance Technologies LLC increased its position in Commercial Metals Company by 119.7% in the fourth quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company's stock valued at $126,000 after buying an additional 5,182 shares in the last quarter. First Manhattan Co. raised its stake in Commercial Metals Company by 2.4% in the first quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Commercial Metals Company during the first quarter valued at about $13,580,000. Institutional investors own 89.73% of the company's stock.
Commercial Metals Company now has a P/E ratio of 30.65 and market capitalization is 2.30B. The stock declined 1.58% or $0.32 reaching $19.94 per share. The company has market cap of $3.52 billion.
The stock is now moving with a Positive distance from 200-Day Simple Moving Average of about 4.09% and has no so good Year to Date (YTD) Performance of -6.98% which means the stock is constantly adding to its value from previous fiscal year end price. Commercial Metals Company (NYSE:CMC) notched a 12-month high of $20.22 while $26.00 target is by far the most aggressive out of analysts who are now evaluating CMC, $5.78 higher than the next highest 52-week price estimate.
The share price of the company (NYSE:CMC) was down -2.12% during the last trading session, with a high of 20.32 and the volume of Commercial Metals Company shares traded was 1489574. In the latest earnings report the EPS was $0.65 and is expected to be $0.93 for the current year with 115,790,000 shares now outstanding.
Walthausen & Company decreased Commercial Metals Co (CMC) stake by 49.19% reported in 2016Q4 SEC filing. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.31 EPS.
Quarterly Revenue growth year over year is 12.6 Percent.
The company has mean EPS estimate of 0.28 reported by 8 number of analyst for the quarter ending Current Qtr.(Aug2017). Shareholders of record on Thursday, July 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.44%.
According to Yahoo Finance, The Dividend Date for Commercial Metals Company is Jul 20, 2017 and its Ex-Dividend Date is Jul 3, 2017.
03/28/2017 - Commercial Metals Company was upgraded to " by analysts at Credit Suisse.
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A number of analysts have weighed in on the stock. On November 9 the company was upgraded to "Buy" from "Hold" and a price target of $20.00 was set by analysts at Jefferies. Bank of America Corporation downgraded shares of Commercial Metals Company from a "buy" rating to a "neutral" rating and lowered their target price for the company from $21.00 to $19.00 in a report on Thursday, June 8th.
On December 12 the stock rating was downgraded to "Hold" from "Buy" in a statement from Jefferies.
03/21/2017 - Commercial Metals Company had its " rating reiterated by analysts at Deutsche Bank. 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, angles, flats and rounds.
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