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

Commercial Metals (NYSE:CMC) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $65.25.

Several research analysts have commented on the stock. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target for the company. Finally, Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th.

Commercial Metals Trading Up 1.3 %

CMC opened at $61.22 on Friday. Commercial Metals has a one year low of $43.52 and a one year high of $63.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The business has a 50 day simple moving average of $55.52 and a two-hundred day simple moving average of $54.73. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 2.60 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Analysts predict that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Commercial Metals’s dividend payout ratio (DPR) is currently 17.39%.

Hedge Funds Weigh In On Commercial Metals

A number of institutional investors and hedge funds have recently made changes to their positions in CMC. Boston Partners grew its stake in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after buying an additional 3,063,241 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Commercial Metals in the second quarter worth $50,132,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after acquiring an additional 686,519 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Commercial Metals during the third quarter valued at $16,731,000. Finally, Van ECK Associates Corp raised its position in shares of Commercial Metals by 204.3% in the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after purchasing an additional 282,511 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.