Jennifer Durbin Sells 25,050 Shares of Commercial Metals (NYSE:CMC) Stock

Commercial Metals Company (NYSE:CMC) insider Jennifer Durbin sold 25,050 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were 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 in the company, valued at $4,228,813.60. This trade represents a 32.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $80.57 on Friday. The firm has a market cap of $8.94 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.49. The firm’s 50-day simple moving average is $72.29 and its 200-day simple moving average is $62.69. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $84.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.70 and a current ratio of 4.47.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. As a group, research analysts expect that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.72 annualized dividend and a yield of 0.9%. Commercial Metals’s payout ratio is currently 18.56%.

Analysts Set New Price Targets

CMC has been the topic of several recent analyst reports. Zacks Research downgraded shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group set a $85.00 price target on shares of Commercial Metals and gave the company a “buy” rating in a report on Thursday, January 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $84.00 price objective on shares of Commercial Metals in a research note on Tuesday, December 30th. Wall Street Zen raised shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Finally, Citigroup boosted their target price on Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Institutional Trading of Commercial Metals

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Commercial Metals by 1.4% in 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 during the last quarter. Amundi increased its stake in shares of Commercial Metals by 13.3% in the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock valued at $114,000 after buying an additional 291 shares during the period. Jones Financial Companies Lllp raised its position in shares of Commercial Metals by 614.9% during the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Commercial Metals by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after acquiring an additional 56,875 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after acquiring an additional 941 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

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.