Commercial Metals Company (NYSE:CMC) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Wednesday, November 8th will be paid a dividend of 0.12 per share by the basic materials company on Wednesday, November 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.22%.

Commercial Metals has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $1.54 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 31.2%.

Commercial Metals (CMC) traded up 1.11% during midday trading on Tuesday, reaching $21.85. The company’s stock had a trading volume of 159,002 shares. The stock has a market cap of $2.53 billion, a P/E ratio of 33.77 and a beta of 1.22. The stock’s 50 day moving average is $19.20 and its 200 day moving average is $18.82. Commercial Metals has a 12-month low of $15.16 and a 12-month high of $24.64.

Several analysts have recently commented on CMC shares. Citigroup Inc. decreased their target price on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $21.00 target price (up previously from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “strong sell” rating in a research report on Monday, September 4th. Macquarie started coverage on Commercial Metals in a research report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of Commercial Metals in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.00.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Dividend History for Commercial Metals (NYSE:CMC)

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