Commercial Metals Company (NYSE:CMC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Commercial Metals Company (NYSE:CMC) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $64.20.

CMC has been the topic of a number of analyst reports. Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. raised their price target on Commercial Metals from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Morgan Stanley raised Commercial Metals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $57.50 to $68.00 in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 1,722 shares of Commercial Metals stock in a transaction dated Monday, October 20th. The stock was bought at an average cost of $58.09 per share, for a total transaction of $100,030.98. Following the transaction, the director owned 6,722 shares in the company, valued at approximately $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Commercial Metals

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Commercial Metals by 2.3% during the third quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 180 shares in the last quarter. Spire Wealth Management raised its stake in shares of Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after buying an additional 183 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Commercial Metals by 4.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,755 shares of the basic materials company’s stock worth $272,000 after buying an additional 184 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Commercial Metals by 2.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after buying an additional 188 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 202 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Shares of CMC opened at $63.90 on Thursday. The stock has a market capitalization of $7.09 billion, a P/E ratio of 84.08, a P/E/G ratio of 1.94 and a beta of 1.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53. The company’s fifty day moving average is $58.98 and its two-hundred day moving average is $54.70.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, October 30th. Commercial Metals’s dividend payout ratio is presently 94.74%.

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.