Commercial Metals Company

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  • Mar. 26, 2015, 7:37 AM
    • Commercial Metals (NYSE:CMC) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 3.18%
    • Payable April 23; for shareholders of record April 9; ex-div April 7.
    | Mar. 26, 2015, 7:37 AM
  • Mar. 26, 2015, 7:05 AM
    • Commercial Metals (NYSE:CMC): FQ2 EPS of $0.52 beats by $0.32.
    • Revenue of $1.39B (-15.8% Y/Y) misses by $240M.
    | Mar. 26, 2015, 7:05 AM
  • Mar. 25, 2015, 5:30 PM
    | Mar. 25, 2015, 5:30 PM | 1 Comment
  • Mar. 20, 2015, 2:39 PM
    • AK Steel (AKS -5.2%) is sharply lower after reporting downside Q1 guidance, citing lower than expected carbon steel spot market shipments and prices due to high levels of what it sees as unfairly traded imports, but most other steel names sport nice gains: X +4.3%, MT +2.9%, NUE +2.8%, STLD +1.9%, WOR +2.5%, CMC +2.3%.
    • Various factors but especially the strong dollar are sparking a surge in steel imports, resulting in a tough Q1 for all U.S. steel producers, but most of the companies also say Q2 and H2 2015 should be a bit better as demand is fairly strong in many end markets (
    • NUE said this week that steel mill margins for all products should improve in Q2 as it begins to realize the benefits of lower raw materials costs and selling prices begin to stabilize, while STLD said continued strength in domestic steel consumption from the auto, manufacturing and construction sectors should support a stronger Q2 and H2.
    • Credit Suisse analysts prefer US Steel in the group "with the caveat that this is a 1-3 year view."
    | Mar. 20, 2015, 2:39 PM | 3 Comments
  • Mar. 16, 2015, 5:19 PM
    • Steel stocks (NYSEARCA:SLX) finished mostly lower after a WSJ weekend report on increasing Chinese steel exports and an analyst note that lowered price targets on the sector.
    • WSJ said China's steel exports rose 63% Y/Y to 9.2M tons in January, and that as China's growth slows it is shipping its excess steel overseas, resulting in lower prices and prompting steel producers all over the world to seek government protection.
    • Also, Jefferies cut price targets on several sector names after what it sees as a challenging Q1, noted that most of its contacts expect steel prices to trough sometime in Q2, and said it believes mini-mill producers such as Steel Dynamics and Nucor are best positioned in the group.
    • In today's trade, X +0.7%, NUE +1.1%, STLD +0.1%, AKS -1.5%, WOR -2.3%, CMC -3%, SCHN -4.7%.
    | Mar. 16, 2015, 5:19 PM | 2 Comments
  • Jan. 26, 2015, 12:29 PM
    • With just a week of bargaining left until the national contract for U.S. refinery workers expires, talks over a new agreement between the United Steelworkers union and lead oil company negotiator Royal Dutch Shell (RDS.A, RDS.B) appear to be making little progress.
    • The USW rejected the first industry proposal on Friday, calling it "inadequate and offensive."
    • The union is seeking annual pay raises double those of the last agreement, and wants work given to non-union contractors to go to USW members.
    • Reltaed steel tickers: X, AKS, NUE, STLD, CMC, ATI
    | Jan. 26, 2015, 12:29 PM | 12 Comments
  • Jan. 23, 2015, 11:18 AM
    • Iron ore miners are broadly lower after Goldman Sachs becomes the latest global bank to deliver a dismal outlook for the steel-making ingredient, forecasting an average price of $66/metric ton this year from an earlier estimate of $80.
    • Goldman is at least the fifth bank this month to lower estimates, citing rising seaborne supplies and weaker demand growth from China; just last week, Citigroup cut its iron ore forecast to $58 in 2015, down from its earlier $65, and UBS lowered its target to $66 from $85.
    • Low-cost expansions likely will continue as major producers are still mining iron ore at a profit, which would expand the global seaborne surplus from 47M tons this year to 260M tons by 2018, Goldman says.
    • Iron ore miners: VALE -8%, BHP -3%, RIO -3.6%, CLF -7.6%.
    • Copper miners: FCX -2.6%, SCCO -2.4%, TCK -2.6%.
    • Steel companies: X -6.3%, MT -7.1%, AKS -3.2%, NUE -1.2%, STLD -3%, CMC -3.8%, TMST -2.4%.
    • Earlier: Goldman gives in on mined commodities
    | Jan. 23, 2015, 11:18 AM | 23 Comments
  • Jan. 6, 2015, 8:28 AM
    • Commercial Metals (NYSE:CMC) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 3.1%
    • Payable Feb. 3; for shareholders of record Jan. 20; ex-div Jan. 15.
    | Jan. 6, 2015, 8:28 AM
  • Jan. 6, 2015, 7:15 AM
    • Commercial Metals (NYSE:CMC): FQ1 EPS of $0.32 beats by $0.04.
    • Revenue of $1.68B (+3.7% Y/Y) misses by $90M.
    | Jan. 6, 2015, 7:15 AM
  • Jan. 5, 2015, 5:30 PM
  • Dec. 12, 2014, 2:54 PM
    • Energy-related demand represents ~13% of U.S. steel sales, which Credit Suisse analysts say places most at risk US Steel’s (X -1.9%) tubular goods business, which produces OCTG products, and Commercial Metals' (CMC -3%) steel mills business, which has a significant exposure to Texas and other oil-rich regions.
    • The firm also says North American iron ore producers such as Cliffs Natural Resources (CLF -3.4%) have higher energy intensities than Australian and Brazilian producers at both the mine and on the sea, and the lower oil price in theory partially closes the gap between North American and Brazilian/Australian supply, but any gains would be short-lived.
    | Dec. 12, 2014, 2:54 PM | 5 Comments
  • Nov. 19, 2014, 12:26 PM
    | Nov. 19, 2014, 12:26 PM | 3 Comments
  • Oct. 29, 2014, 7:14 AM
    • Commercial Metals (NYSE:CMC): FQ4 EPS of $0.29 beats by $0.04.
    • Revenue of $1.9B (+11.8% Y/Y) beats by $80M.
    | Oct. 29, 2014, 7:14 AM
  • Oct. 28, 2014, 5:30 PM
  • Oct. 21, 2014, 12:34 PM
    • The U.S. says it will terminate a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties, and anti-dumping duties will apply beginning Dec. 16.
    • U.S. steel producers, including U.S. Steel (X +5%) and Nucor (NUE +2.2%), complained to the Commerce Department in July that the reference price set in a 1999 agreement, which also set a cap on imports, had been below U.S. market prices since 2004.
    • However, J.P. Morgan analysts see no reason for buying steel stocks (NYSEARCA:SLX), saying the move impacts only 1.4% of U.S. market share; in fact, the firm suggests shorting steel stocks on the "misinterpretation" of duties on Russian imports of hot rolled steel.
    • Other steels also are higher: AKS +3.9%, MT +3.6%, CMC +2.3%, STLD +1.7%.
    | Oct. 21, 2014, 12:34 PM
  • Sep. 10, 2014, 2:34 PM
    • The U.S. Commerce Department has announced that Turkey has not been dumping rebar and will not impose duties on it, and Axiom Capital thinks it is bad news for U.S. Steel (X -0.7%).
    • Axiom says it is difficult to imagine U.S. steel mills successfully arguing that dumping is occurring against the current macro backdrop when U.S. HRC spot prices are sitting at a $93, $63 and $18 premium to Chinese, EU and Turkey HRC spot prices.
    • The firm continues to believe the rally in U.S. Steel is based several misconceptions by the market (earlier).
    • A group of five U.S.-based steel producers, including Nucor (NUE -0.9%) and Commercial Metals (CMC -2%), sued last year, accusing Turkey and Mexico of essentially undercutting U.S. prices to grab sales and market share; the U.S. confirmed duties on Mexican material of up to 66.7%.
    | Sep. 10, 2014, 2:34 PM | 2 Comments
Company Description
Commercial Metals Co manufactures, recycles and markets steel and metal products and related materials and services through a network including steel mills.
Industry: Steel & Iron
Country: United States