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

Shares of Commercial Metals Company (NYSE:CMC) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $72.70.

A number of research analysts have issued reports on CMC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday. Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Wells Fargo & Company upped their price target on shares of Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. UBS Group reiterated a “neutral” rating on shares of Commercial Metals in a research report on Monday, October 27th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $84.00 price objective on shares of Commercial Metals in a report on Tuesday, December 30th.

Commercial Metals Stock Down 0.8%

Shares of NYSE CMC opened at $77.24 on Friday. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 0.41 and a beta of 1.49. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $68.59 and its 200 day moving average is $60.84. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $79.61.

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

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Commercial Metals’s dividend payout ratio is currently 18.56%.

Insider Transactions at Commercial Metals

In other Commercial Metals news, Director Dennis V. Arriola purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased at an average cost of $74.69 per share, with a total value of $149,380.00. Following the purchase, the director owned 9,238 shares of the company’s stock, valued at approximately $689,986.22. The trade was a 27.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in shares of Commercial Metals in the 3rd quarter valued at about $25,000. Rothschild Investment LLC grew its stake in Commercial Metals by 169.6% during the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after buying an additional 324 shares during the last quarter. Spire Wealth Management raised its stake in shares of Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares during the last quarter. SBI Securities Co. Ltd. grew its position in 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. Finally, V Square Quantitative Management LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth about $54,000. 86.90% of the stock is currently owned by institutional investors.

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.