Short Interest in Commercial Metals (NYSE:CMC) Expands By 16.4%

Commercial Metals (NYSE:CMC - Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,700,000 shares, a growth of 16.4% from the November 30th total of 3,180,000 shares. Based on an average daily trading volume, of 903,300 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.3% of the shares of the stock are short sold.

Commercial Metals Trading Down 1.8 %

CMC stock traded down $0.89 during midday trading on Monday, hitting $49.22. The stock had a trading volume of 944,988 shares, compared to its average volume of 869,977. The firm has a market cap of $5.61 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 12-month low of $47.42 and a 12-month high of $64.53. The company's 50-day moving average price is $57.41 and its 200 day moving average price is $55.08.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, equities research analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. Commercial Metals's payout ratio is 17.39%.

Analyst Upgrades and Downgrades

CMC has been the subject of a number of research reports. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. UBS Group reissued a "sell" rating and issued a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $65.33.

Hedge Funds Weigh In On Commercial Metals

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Commercial Metals during the 3rd quarter worth $66,000. Archer Investment Corp purchased a new stake in Commercial Metals during the second quarter valued at about $77,000. KBC Group NV increased its stake in Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock worth $170,000 after acquiring an additional 425 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of Commercial Metals in the 3rd quarter worth about $206,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Commercial Metals by 29.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company's stock valued at $209,000 after purchasing an additional 870 shares in the last quarter. 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.