Commercial Metals Company (NYSE:CMC) Receives Average Rating of “Moderate Buy” from Brokerages

Commercial Metals Company (NYSE:CMC) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $71.50.

A number of analysts recently commented on CMC shares. KeyCorp started coverage on Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price for the company. Jefferies Financial Group set a $85.00 target price on Commercial Metals and gave the company a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company decreased their target price on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, January 21st.

Insider Buying and Selling

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the completion of the sale, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. The trade was a 32.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Commercial Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. Royal Bank of Canada increased its holdings in Commercial Metals by 1.4% during the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after purchasing an additional 1,219 shares in the last quarter. Amundi increased its holdings in Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 291 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Commercial Metals by 614.9% during the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after purchasing an additional 10,121 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Commercial Metals by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after buying an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Commercial Metals by 1.8% in the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock worth $2,453,000 after buying an additional 941 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Up 3.5%

Shares of NYSE:CMC opened at $69.01 on Friday. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. The business’s 50-day moving average is $66.05 and its 200-day moving average is $67.69. Commercial Metals has a 1 year low of $44.64 and a 1 year high of $84.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Equities research analysts predict that Commercial Metals will post 6.75 earnings per share for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is presently 16.04%.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.