Short Interest Report: Could Commercial Metals Company (NYSE:CMC) Change Direction After More Shorts?

November 29, 2016 - By Marie Mckinney   ·   0 Comments

Short Interest Report: Could Commercial Metals Company (NYSE:CMC) Change Direction After More Shorts?

The stock of Commercial Metals Company (NYSE:CMC) registered an increase of 10.81% in short interest. CMC’s total short interest was 11.10 million shares in November as published by FINRA. Its up 10.81% from 10.02 million shares, reported previously. With 1.55 million shares average volume, it will take short sellers 7 days to cover their CMC’s short positions. The short interest to Commercial Metals Company’s float is 9.78%. The stock decreased 0.09% or $0.02 during the last trading session, hitting $22.25. Commercial Metals Company (NYSE:CMC) has risen 26.35% since April 26, 2016 and is uptrending. It has outperformed by 21.09% the S&P500.

Commercial Metals Company, together with its subsidiaries, makes, recycles and markets steel and metal products, related materials and services through a network. The company has a market cap of $2.58 billion. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. It has a 35.74 P/E ratio. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar , angles, flats and rounds.

Insitutional Activity: The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.22, from 0.8 in 2016Q1. The ratio improved, as 34 funds sold all Commercial Metals Company shares owned while 82 reduced positions. 26 funds bought stakes while 67 increased positions. They now own 100.85 million shares or 5.56% less from 106.79 million shares in 2016Q1.
State Treasurer State Of Michigan has invested 0.01% of its portfolio in Commercial Metals Company (NYSE:CMC). Old Mutual Customised Solutions (Proprietary) has 0.03% invested in the company for 7,000 shares. Metropolitan Life Insurance Co accumulated 0.02% or 184,026 shares. Nomura Asset Mgmt Company Limited has invested 0% of its portfolio in Commercial Metals Company (NYSE:CMC). Moreover, Nordea Invest has 0% invested in Commercial Metals Company (NYSE:CMC) for 41,333 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems last reported 22,047 shares in the company. Thrivent For Lutherans has 16,020 shares for 0% of their US portfolio. Blackrock Fund Advsr last reported 0.03% of its portfolio in the stock. Reilly Fincl Advisors Lc owns 20 shares or 0% of their US portfolio. The California-based California State Teachers Retirement has invested 0.01% in Commercial Metals Company (NYSE:CMC). Aqr Limited Liability Corporation last reported 4.04M shares in the company. Ls Investment Advsrs Ltd Liability Corporation has 6,859 shares for 0.01% of their US portfolio. Shufro Rose Ltd Llc has 0.06% invested in the company for 32,100 shares. Jane Street Group Limited Liability Corporation holds 0% of its portfolio in Commercial Metals Company (NYSE:CMC) for 16,591 shares. Fuller And Thaler Asset Management accumulated 4.53M shares or 1.31% of the stock.

Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 4 selling transactions for $1.24 million net activity. 50,000 shares were sold by ALVARADO JOSEPH, worth $1.00 million on Wednesday, November 9. BATCHELOR ADAM B. sold $109,449 worth of stock or 5,372 shares. HATTEN TERRY P. sold $86,259 worth of stock or 4,313 shares. $38,717 worth of Commercial Metals Company (NYSE:CMC) was sold by MASSARO ANTHONY A on Friday, July 1.

Commercial Metals Company (NYSE:CMC) Ratings Coverage

Out of 11 analysts covering Commercial Metals (NYSE:CMC), 4 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 36% are positive. Commercial Metals has been the topic of 18 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by DA Davidson on Thursday, October 29. The company was upgraded on Wednesday, September 2 by Zacks. The rating was reinitiated by Jefferies with “Buy” on Wednesday, January 13. JP Morgan maintained Commercial Metals Company (NYSE:CMC) rating on Wednesday, December 30. JP Morgan has “Neutral” rating and $16 price target. Citigroup upgraded Commercial Metals Company (NYSE:CMC) on Wednesday, November 9 to “Buy” rating. Jefferies downgraded Commercial Metals Company (NYSE:CMC) on Monday, March 21 to “Hold” rating. The firm has “Buy” rating given on Wednesday, September 16 by Jefferies. DA Davidson downgraded it to “Neutral” rating and $22 target price in Friday, November 11 report. On Monday, June 27 the stock rating was downgraded by Clarkson Platou to “Sell”. Bank of America downgraded Commercial Metals Company (NYSE:CMC) on Thursday, June 2 to “Underperform” rating.

CMC Company Profile

Commercial Metals Company (CMC), incorporated on August 29, 1946, together with its subsidiaries, is engaged in manufacturing, recycling and marketing steel and metal products, related materials and services through a network, including steel mills, such as minimills or micro-mills, steel fabrication and processing facilities, construction-related product warehouses, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets. The Firm operates in five business divisions across two geographic divisions, which include CMC Americas Division, which includes three divisions, including Americas Recycling, Americas Mills and Americas Fabrication, and CMC International Division, which includes two divisions, including International Mill, and International Marketing and Distribution.

More recent Commercial Metals Company (NYSE:CMC) news were published by: Streetinsider.com which released: “Commercial Metals (CMC) Names New COO” on November 29, 2016. Also Nasdaq.com published the news titled: “Commercial Metals Company (CMC) Ex-Dividend Date Scheduled for November 07, 2016” on November 04, 2016. Zacks.com‘s news article titled: “Commercial Metals (CMC) Catches Eye: Stock Jumps 20.3%” with publication date: November 10, 2016 was also an interesting one.

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By Marie Mckinney


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