Commercial Metals (NYSE:CMC) – Equities researchers at KeyCorp lowered their Q2 2018 earnings per share (EPS) estimates for Commercial Metals in a research report issued on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.34.
Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis.
Shares of Commercial Metals (NYSE CMC) opened at $23.04 on Tuesday. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The firm has a market capitalization of $2,614.88, a PE ratio of 34.91 and a beta of 1.27.
A number of large investors have recently made changes to their positions in CMC. Janus Henderson Group PLC purchased a new position in Commercial Metals during the 2nd quarter valued at about $29,018,000. Deprince Race & Zollo Inc. increased its holdings in Commercial Metals by 58.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock valued at $57,435,000 after purchasing an additional 1,117,876 shares during the period. Systematic Financial Management LP purchased a new position in Commercial Metals during the 4th quarter valued at about $12,477,000. Russell Investments Group Ltd. increased its holdings in Commercial Metals by 4,203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after purchasing an additional 575,835 shares during the period. Finally, 3G Capital Partners LP purchased a new position in Commercial Metals during the 3rd quarter valued at about $9,515,000. Institutional investors own 88.77% of the company’s stock.
In other news, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total value of $174,345.90. Following the transaction, the executive vice president now owns 10 shares in the company, valued at $251.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at approximately $250.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. Commercial Metals’s dividend payout ratio is currently 72.73%.
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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.
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