Commercial Metals (NYSE:CMC) Director John Mcpherson Acquires 1,390 Shares of Stock

Commercial Metals Company (NYSE:CMC) Director John Mcpherson purchased 1,390 shares of Commercial Metals stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $71.92 per share, for a total transaction of $99,968.80. Following the completion of the purchase, the director directly owned 21,927 shares in the company, valued at approximately $1,576,989.84. This trade represents a 6.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Commercial Metals Trading Down 0.2%

Shares of Commercial Metals stock opened at $72.21 on Friday. Commercial Metals Company has a 12-month low of $53.08 and a 12-month high of $84.87. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.42 and a beta of 1.52. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $69.48 and a 200-day simple moving average of $70.16.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. On average, equities analysts forecast that Commercial Metals Company will post 6.64 EPS for the current fiscal year.

Commercial Metals announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were paid a $0.20 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Commercial Metals’s payout ratio is currently 15.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Commercial Metals in the second quarter worth $954,989,000. State Street Corp increased its holdings in shares of Commercial Metals by 1.5% in the 4th quarter. State Street Corp now owns 6,361,477 shares of the basic materials company’s stock valued at $440,341,000 after purchasing an additional 91,104 shares in the last quarter. Boston Partners lifted its stake in shares of Commercial Metals by 1.9% in the third quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after purchasing an additional 67,139 shares during the period. Geode Capital Management LLC boosted its holdings in Commercial Metals by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company’s stock worth $202,626,000 after buying an additional 86,749 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Commercial Metals by 4.8% in the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after buying an additional 76,365 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMC. Jefferies Financial Group upgraded Commercial Metals from a “buy” rating to a “buy” rating in a research report on Friday, June 5th. Wells Fargo & Company lifted their target price on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. BNP Paribas Exane upgraded Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Wednesday, July 8th. Citigroup lowered their price objective on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Morgan Stanley upped their price objective on shares of Commercial Metals from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.18.

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.