Commercial Metals Company Plans Quarterly Dividend of $0.20 (NYSE:CMC)

Commercial Metals Company (NYSE:CMC) announced a quarterly dividend on Wednesday, June 24th. Stockholders of record on Monday, July 6th will be paid a dividend of 0.20 per share by the basic materials company on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, July 6th.

Commercial Metals has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Commercial Metals has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $6.93 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 11.5%.

Commercial Metals Stock Performance

Shares of CMC stock traded up $0.25 during trading on Wednesday, hitting $71.39. The company’s stock had a trading volume of 1,671,251 shares, compared to its average volume of 1,184,290. The company has a market cap of $7.92 billion, a PE ratio of 15.90, a P/E/G ratio of 0.42 and a beta of 1.50. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average of $71.70 and a 200-day moving average of $71.19. Commercial Metals has a 52 week low of $48.14 and a 52 week high of $84.87.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the business posted $0.26 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. As a group, research analysts anticipate that Commercial Metals will post 6.56 earnings per share for the current year.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.