Commercial Metals (NYSE:CMC) Receives Consensus Rating of “Hold” from Analysts

Shares of Commercial Metals (NYSE:CMC) have been given an average recommendation of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $60.33.

Several equities analysts have weighed in on CMC shares. Morgan Stanley dropped their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Jefferies Financial Group dropped their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. BMO Capital Markets lowered their target price 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. Finally, UBS Group cut their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th.

Commercial Metals Stock Up 1.5 %

Shares of NYSE CMC opened at $42.32 on Wednesday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $46.23 and a 200 day moving average price of $51.45. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

Insiders Place Their Bets

In related news, Director John R. Mcpherson acquired 2,475 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company’s stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its stake in Commercial Metals by 5.3% during 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 during the period. Mariner LLC lifted its stake in shares of Commercial Metals by 0.9% in the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock worth $1,227,000 after acquiring an additional 232 shares in the last quarter. Truist Financial Corp grew its stake in Commercial Metals by 3.5% during the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 242 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Commercial Metals by 0.8% in the 4th quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 262 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About Commercial Metals

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.