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

Shares of Commercial Metals Company (NYSE:CMC) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $73.00.

A number of equities research analysts have recently commented on CMC shares. 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. Wells Fargo & Company lowered their price objective on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. The Goldman Sachs Group restated a “buy” rating and issued a $84.00 price target on shares of Commercial Metals in a research note on Tuesday, December 30th. Finally, KeyCorp assumed coverage on Commercial Metals in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock.

Insider Buying and Selling

In related news, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the sale, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis V. Arriola bought 2,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was bought at an average cost of $74.69 per share, with a total value of $149,380.00. Following the transaction, the director owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CMC. Hsbc Holdings PLC increased its position in shares of Commercial Metals by 30.6% during the 4th quarter. Hsbc Holdings PLC now owns 38,839 shares of the basic materials company’s stock valued at $2,686,000 after purchasing an additional 9,102 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Commercial Metals by 23.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,673 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 314 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Commercial Metals by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 23,615 shares of the basic materials company’s stock worth $1,635,000 after buying an additional 216 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Commercial Metals by 617.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock valued at $58,000 after buying an additional 716 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Commercial Metals by 7.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,803 shares of the basic materials company’s stock valued at $955,000 after buying an additional 986 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $61.38 on Wednesday. The business has a fifty day moving average price of $72.03 and a 200-day moving average price of $66.65. 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 company has a market capitalization of $6.81 billion, a PE ratio of 13.67, a PEG ratio of 0.33 and a beta of 1.47. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $84.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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 firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. As a group, equities analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th will be paid a $0.20 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, April 6th. Commercial Metals’s dividend payout ratio (DPR) 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.