Commercial Metals (NYSE:CMC) Receives Average Rating of “Hold” from Brokerages

Commercial Metals (NYSE:CMC) has earned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $60.33.

Several analysts recently issued reports on the company. UBS Group cut their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley cut their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Institutional Trading of Commercial Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Isthmus Partners LLC raised its stake in shares of Commercial Metals by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock worth $340,000 after buying an additional 226 shares in the last quarter. Choreo LLC raised its stake in shares of Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock worth $509,000 after buying an additional 228 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock worth $225,000 after buying an additional 229 shares in the last quarter. Mariner LLC raised its stake in shares of Commercial Metals by 0.9% in the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock worth $1,227,000 after buying an additional 232 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Commercial Metals by 3.5% in the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock worth $355,000 after buying an additional 242 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $48.04 on Friday. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.62 and a beta of 1.29. The stock has a 50 day moving average of $44.86 and a 200-day moving average of $50.34. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s payout ratio is currently 120.00%.

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.