Analysts Set Commercial Metals Company (NYSE:CMC) PT at $72.70

Shares of Commercial Metals Company (NYSE:CMC) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $72.70.

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Citigroup upped their target price on Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $84.00 price target on shares of Commercial Metals in a research report on Tuesday, December 30th. Zacks Research lowered shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th.

Insider Activity

In related news, Director Dennis V. Arriola bought 2,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was bought at an average price of $74.69 per share, with a total value of $149,380.00. Following the purchase, the director owned 9,238 shares in the company, valued at approximately $689,986.22. The trade was a 27.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer J. Durbin sold 25,050 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the sale, the insider owned 52,880 shares of the company’s stock, valued at $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commercial Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Commercial Metals in the 3rd quarter worth $25,000. Rothschild Investment LLC grew its stake in shares of Commercial Metals by 169.6% in the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 324 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Commercial Metals by 282.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 511 shares during the period. Spire Wealth Management raised its position in Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after buying an additional 301 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Price Performance

CMC stock opened at $79.61 on Tuesday. The firm has a 50 day simple moving average of $74.35 and a two-hundred day simple moving average of $63.97. The stock has a market cap of $8.83 billion, a PE ratio of 20.52, a P/E/G ratio of 0.43 and a beta of 1.49. Commercial Metals has a one year low of $37.92 and a one year high of $84.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 18.56%.

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.