Commercial Metals (NYSE:CMC) Director Buys $100,039.50 in Stock

Commercial Metals (NYSE:CMC) Director John R. Mcpherson bought 2,475 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Commercial Metals Price Performance

CMC stock traded down $0.42 during midday trading on Monday, reaching $40.53. The company had a trading volume of 2,448,720 shares, compared to its average volume of 1,267,527. The firm has a 50-day moving average price of $48.07 and a 200-day moving average price of $52.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The company has a market capitalization of $4.58 billion, a P/E ratio of 36.51, a P/E/G ratio of 2.62 and a beta of 1.16. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. Commercial Metals’s payout ratio is 120.00%.

Institutional Trading of Commercial Metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after purchasing an additional 24,665 shares in the last quarter. Boston Partners boosted its position in Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock valued at $201,178,000 after buying an additional 243,921 shares during the period. Geode Capital Management LLC increased its holdings in shares of Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after buying an additional 28,019 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Commercial Metals by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after acquiring an additional 245,468 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after acquiring an additional 893,094 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CMC shares. Morgan Stanley reduced their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BMO Capital Markets reduced their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Finally, UBS Group decreased their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average price target of $60.33.

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.