Commercial Metals Company (NYSE:CMC) Receives Average Recommendation of “Moderate Buy” from Analysts

Commercial Metals Company (NYSE:CMC) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $79.4545.

CMC has been the subject of several analyst reports. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Barclays initiated coverage on shares of Commercial Metals in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price target on the stock. Weiss Ratings raised shares of Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th.

Insider Buying and Selling

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the business’s stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of $61.30 per share, for a total transaction of $504,499.00. Following the purchase, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. This trade represents a 4.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC increased its position in shares of Commercial Metals by 0.6% in the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock valued at $1,606,000 after acquiring an additional 133 shares during the period. NewEdge Advisors LLC grew its stake in Commercial Metals by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 3,610 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 147 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Commercial Metals by 3.1% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 149 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Commercial Metals by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company’s stock valued at $1,630,000 after purchasing an additional 155 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Commercial Metals by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock worth $256,000 after purchasing an additional 160 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

CMC stock opened at $66.14 on Friday. The firm has a 50 day moving average price of $70.75 and a 200-day moving average price of $70.67. Commercial Metals has a 52-week low of $49.66 and a 52-week high of $84.87. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.37 and a beta of 1.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. Equities research analysts forecast that Commercial Metals will post 6.63 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, July 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals’s dividend payout ratio is 15.07%.

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.