Commercial Metals (NYSE:CMC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $58.00.

CMC has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets dropped their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wolfe Research upgraded shares of Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Commercial Metals in a research report on Friday, May 30th. They set a “neutral” rating and a $52.00 price target on the stock.

Insiders Place Their Bets

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMC. Isthmus Partners LLC increased its position in shares of Commercial Metals by 3.2% in the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock valued at $340,000 after buying an additional 226 shares in the last quarter. Choreo LLC increased its holdings in Commercial Metals by 2.1% during the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock worth $509,000 after purchasing an additional 228 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 229 shares during the last quarter. Mariner LLC increased its holdings in shares of Commercial Metals by 0.9% in the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock valued at $1,227,000 after acquiring an additional 232 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Commercial Metals by 3.5% in the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 242 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 1.5%

CMC opened at $50.67 on Thursday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.73 billion, a PE ratio of 45.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.27. The stock’s fifty day simple moving average is $45.21 and its 200 day simple moving average is $49.01. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 120.00%.

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.