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

Shares of Commercial Metals Company (NYSE:CMC) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $63.80.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Commercial Metals from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, October 8th. Morgan Stanley raised shares of Commercial Metals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $57.50 to $68.00 in a research note on Friday, October 24th. Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, UBS Group reissued a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th.

Insider Activity

In other news, Director John R. Mcpherson purchased 1,722 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $58.09 per share, with a total value of $100,030.98. Following the purchase, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commercial Metals

Several hedge funds have recently modified their holdings of CMC. National Bank of Canada FI boosted its stake in shares of Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Commercial Metals during the 3rd quarter worth about $25,000. SBI Securities Co. Ltd. boosted its stake in shares of Commercial Metals by 282.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 511 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 302 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Trading Down 0.8%

Shares of NYSE:CMC opened at $59.43 on Friday. The company has a market cap of $6.59 billion, a PE ratio of 78.20, a P/E/G ratio of 1.94 and a beta of 1.32. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The company’s 50 day moving average is $58.61 and its two-hundred day moving average is $52.82. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is currently 94.74%.

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.