Commercial Metals Company (NYSE:CMC – Get Free Report) Director John Mcpherson acquired 1,390 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $71.92 per share, for a total transaction of $99,968.80. Following the purchase, the director owned 21,927 shares of the company’s stock, valued at $1,576,989.84. The trade was a 6.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Commercial Metals Price Performance
NYSE:CMC opened at $71.60 on Friday. The stock has a market cap of $7.92 billion, a P/E ratio of 13.48, a PEG ratio of 0.41 and a beta of 1.52. Commercial Metals Company has a one year low of $53.08 and a one year high of $84.87. The company has a fifty day moving average price of $69.43 and a 200 day moving average price of $70.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54.
Commercial Metals (NYSE:CMC – Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business posted $0.74 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts anticipate that Commercial Metals Company will post 6.64 earnings per share for the current year.
Commercial Metals Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were given a $0.20 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is currently 15.07%.
Analyst Ratings Changes
A number of research analysts recently commented on CMC shares. Bank of America cut their target price on Commercial Metals from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. BMO Capital Markets lifted their price target on shares of Commercial Metals from $77.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and issued a $85.00 price objective on shares of Commercial Metals in a research note on Thursday, August 6th. Finally, Jefferies Financial Group raised shares of Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Commercial Metals currently has an average rating of “Moderate Buy” and an average price target of $81.18.
Read Our Latest Stock Report on Commercial Metals
Institutional Trading of Commercial Metals
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Commercial Metals during the 2nd quarter worth approximately $954,989,000. Artemis Investment Management LLP bought a new stake in Commercial Metals in the fourth quarter valued at approximately $103,962,000. Norges Bank bought a new stake in Commercial Metals in the fourth quarter valued at approximately $97,983,000. Bank of New York Mellon Corp acquired a new stake in Commercial Metals in the second quarter worth $59,572,000. Finally, Bank of America Corp DE raised its holdings in Commercial Metals by 87.4% in the first quarter. Bank of America Corp DE now owns 1,631,213 shares of the basic materials company’s stock worth $100,205,000 after purchasing an additional 760,985 shares during the period. Institutional investors own 86.90% of the company’s stock.
About Commercial Metals
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.
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