Commercial Metals (NYSE:CMC) Director John Mcpherson Buys 1,722 Shares

Commercial Metals Company (NYSE:CMC) Director John Mcpherson acquired 1,722 shares of the company’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $58.09 per share, with a total value of $100,030.98. Following the acquisition, the director directly 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Commercial Metals Trading Up 5.7%

Shares of CMC stock opened at $61.98 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 81.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.32. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The stock’s 50-day moving average price is $58.10 and its 200-day moving average price is $51.69.

Commercial Metals (NYSE:CMC) last released its quarterly 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 return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts predict that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

Institutional Investors Weigh In On Commercial Metals

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Commercial Metals by 282.3% during the second quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after buying an additional 511 shares during the period. Signaturefd LLC boosted its position in shares of Commercial Metals by 51.4% during the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after buying an additional 302 shares during the period. Wayfinding Financial LLC bought a new position in shares of Commercial Metals during the first quarter valued at approximately $47,000. Finally, UMB Bank n.a. raised its holdings in shares of Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock worth $68,000 after buying an additional 610 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $65.00 in a research note on Friday, October 17th. Wall Street Zen upgraded shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Monday. Zacks Research upgraded shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price target on shares of Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, UBS Group boosted their price objective on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.85.

Commercial Metals Company Profile

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.