Commercial Metals (NYSE:CMC) declared a quarterly dividend on Wednesday, October 13th, Zacks reports. Shareholders of record on Wednesday, October 27th will be paid a dividend of 0.14 per share by the basic materials company on Wednesday, November 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, October 26th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.12.
Commercial Metals has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Commercial Metals to earn $2.92 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 16.4%.
Shares of NYSE CMC opened at $32.49 on Thursday. Commercial Metals has a one year low of $18.67 and a one year high of $36.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.95 and a quick ratio of 1.97. The firm’s 50 day simple moving average is $32.18 and its two-hundred day simple moving average is $31.42. The stock has a market capitalization of $3.92 billion, a P/E ratio of 11.99 and a beta of 1.30.
An institutional investor recently raised its position in Commercial Metals stock. Morgan Stanley increased its holdings in Commercial Metals (NYSE:CMC) by 76.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 846,328 shares of the basic materials company’s stock after acquiring an additional 367,685 shares during the quarter. Morgan Stanley owned about 0.70% of Commercial Metals worth $25,999,000 as of its most recent filing with the Securities & Exchange Commission. 87.74% of the stock is currently owned by hedge funds and other institutional investors.
Commercial Metals Company Profile
Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.
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