Commercial Metals (NYSE:CMC) Short Interest Update

Commercial Metals (NYSE:CMC) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 8,450,000 shares, an increase of 13.3% from the January 15th total of 7,460,000 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is currently 4.9 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $145,000. Captrust Financial Advisors lifted its stake in shares of Commercial Metals by 563.0% in the 4th quarter. Captrust Financial Advisors now owns 26,419 shares of the basic materials company’s stock valued at $590,000 after purchasing an additional 22,434 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Commercial Metals by 46.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 311,131 shares of the basic materials company’s stock valued at $6,929,000 after purchasing an additional 98,687 shares in the last quarter. Scopus Asset Management L.P. lifted its stake in shares of Commercial Metals by 30.3% in the 4th quarter. Scopus Asset Management L.P. now owns 795,466 shares of the basic materials company’s stock valued at $17,715,000 after purchasing an additional 185,000 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $484,000. 89.63% of the stock is currently owned by institutional investors and hedge funds.

CMC has been the topic of a number of research analyst reports. ValuEngine lowered Commercial Metals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th. Deutsche Bank raised Commercial Metals from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.50 to $25.00 in a research note on Tuesday, November 26th. BMO Capital Markets initiated coverage on Commercial Metals in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $23.00 price target on the stock. Exane BNP Paribas initiated coverage on Commercial Metals in a research note on Thursday, November 14th. They issued an “outperform” rating on the stock. Finally, Bank of America raised their price target on Commercial Metals from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.61.

NYSE:CMC traded down $0.33 during mid-day trading on Friday, reaching $20.80. The company’s stock had a trading volume of 566,105 shares, compared to its average volume of 2,051,109. The company’s fifty day simple moving average is $21.77 and its two-hundred day simple moving average is $19.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.35 and a quick ratio of 2.27. Commercial Metals has a twelve month low of $13.27 and a twelve month high of $24.04. The stock has a market cap of $2.49 billion, a P/E ratio of 9.45, a P/E/G ratio of 2.25 and a beta of 1.77.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.19. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.44 billion. Commercial Metals had a return on equity of 18.40% and a net margin of 4.41%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Sell-side analysts expect that Commercial Metals will post 2.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Wednesday, January 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, January 14th. Commercial Metals’s dividend payout ratio is currently 23.08%.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. 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.

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