Topic: How To Invest

Q: Pat: What is TSI’s opinion of Commercial Metals Co., on the NYSE? Thank you.

Article Excerpt

A: Commercial Metals Company, $55.47, symbol CMC on New York (Shares outstanding: 116.8 million; Market cap: $6.7 billion;, manufactures steel products for industrial and commercial uses in the construction industry and elsewhere. The company is the largest producer of steel reinforcing bar (rebar) in North and Central America. It also produces merchant bar and steel fence posts. (Merchant bar is used by fabricators and manufacturers to produce a wide variety of products including steel frames and structures, brackets, steel floor and roof joists, walkways, ornamental furniture, railings, and more.) On July 13, 2023, Commercial Metals announced the acquisition of Edsco Fasteners LLC from private equity firm MiddleGround Capital. The purchase price has not yet been disclosed. Edsco manufactures anchoring solutions for the electric transmission market. Its products include anchor cages, bolts, and fasteners made from rebar. Those get used to secure high voltage electrical transmission poles to concrete. Based in Texas, Edsco has four plants, with one each in Texas, Utah, Tennessee, and…