Commercial Metals Company (CMC) Given Consensus Rating of “Hold” by Analysts

Shares of Commercial Metals Company (NYSE:CMC) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.14.

A number of research firms recently issued reports on CMC. Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Macquarie began coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price for the company. Jefferies Group decreased their target price on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Bank of America restated a “neutral” rating and set a $21.00 target price (up from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Finally, Citigroup decreased their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th.

Shares of Commercial Metals (NYSE CMC) opened at $19.77 on Monday. The firm has a market cap of $2,305.79, a price-to-earnings ratio of 26.01, a PEG ratio of 0.74 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $24.64.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.43%. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

Several institutional investors have recently modified their holdings of CMC. GSA Capital Partners LLP purchased a new stake in shares of Commercial Metals during the third quarter worth about $295,000. Walthausen & Co. LLC increased its stake in shares of Commercial Metals by 10.8% during the third quarter. Walthausen & Co. LLC now owns 346,160 shares of the basic materials company’s stock worth $6,587,000 after purchasing an additional 33,610 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Commercial Metals by 4.5% during the third quarter. California Public Employees Retirement System now owns 271,123 shares of the basic materials company’s stock worth $5,159,000 after purchasing an additional 11,723 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Commercial Metals by 375.7% during the third quarter. Point72 Asset Management L.P. now owns 460,000 shares of the basic materials company’s stock worth $8,754,000 after purchasing an additional 363,300 shares in the last quarter. Finally, 3G Capital Partners LP purchased a new stake in shares of Commercial Metals during the third quarter worth about $9,515,000. Institutional investors and hedge funds own 88.62% of the company’s stock.

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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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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