Commercial Metals (NYSE:CMC) Stock Rating Lowered by StockNews.com

Commercial Metals (NYSE:CMC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other analysts have also issued reports about the company. UBS Group initiated coverage on Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price objective for the company. BMO Capital Markets increased their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

Commercial Metals Trading Down 0.1 %

NYSE CMC opened at $55.21 on Thursday. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The business has a 50 day moving average price of $55.41 and a 200-day moving average price of $50.10. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 9.59 and a beta of 1.33.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 EPS. As a group, equities analysts expect that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the transaction, the chairman now owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Lindsay L. Sloan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the sale, the chairman now owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The disclosure for this sale can be found here. Insiders have sold a total of 120,089 shares of company stock worth $6,402,693 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently bought and sold shares of CMC. Norges Bank purchased a new stake in Commercial Metals in the fourth quarter worth $114,477,000. State Street Corp lifted its position in shares of Commercial Metals by 22.3% in the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after purchasing an additional 1,367,997 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 241.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock valued at $90,564,000 after purchasing an additional 1,279,617 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Commercial Metals by 26.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after purchasing an additional 527,709 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock valued at $615,159,000 after buying an additional 487,792 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.