Commercial Metals (NYSE:CMC - Get Free Report) Chairman Barbara Smith sold 35,704 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the transaction, the chairman now directly owns 36,196 shares of the company's stock, valued at $2,095,024.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Barbara Smith also recently made the following trade(s):
- On Wednesday, February 7th, Barbara Smith sold 23,619 shares of Commercial Metals stock. The shares were sold at an average price of $51.65, for a total transaction of $1,219,921.35.
- On Friday, February 2nd, Barbara Smith sold 60,166 shares of Commercial Metals stock. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48.
- On Thursday, January 18th, Barbara Smith sold 57,194 shares of Commercial Metals stock. The shares were sold at an average price of $49.94, for a total transaction of $2,856,268.36.
- On Tuesday, January 16th, Barbara Smith sold 142,806 shares of Commercial Metals stock. The stock was sold at an average price of $49.89, for a total transaction of $7,124,591.34.
Commercial Metals Trading Up 1.1 %
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Shares of NYSE CMC opened at $58.77 on Friday. The firm has a market cap of $6.80 billion, a PE ratio of 10.20 and a beta of 1.32. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $59.81. The business has a fifty day simple moving average of $53.95 and a two-hundred day simple moving average of $49.45.
Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the business posted $1.44 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis. Analysts expect that Commercial Metals will post 5.22 earnings per share for the current fiscal year.
Commercial Metals Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st will be issued a $0.18 dividend. The ex-dividend date is Thursday, March 28th. This is an increase from Commercial Metals's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. Commercial Metals's dividend payout ratio (DPR) is currently 12.50%.
Wall Street Analyst Weigh In
CMC has been the topic of several recent analyst reports. BMO Capital Markets increased their price target on Commercial Metals from $52.00 to $60.00 and gave the stock a "market perform" rating in a report on Friday, March 22nd. UBS Group began coverage on Commercial Metals in a research note on Tuesday, January 16th. They issued a "buy" rating and a $65.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of "Hold" and a consensus target price of $58.25.
View Our Latest Report on Commercial Metals
Institutional Investors Weigh In On Commercial Metals
A number of institutional investors have recently added to or reduced their stakes in CMC. BlackRock Inc. raised its stake in shares of Commercial Metals by 1.7% during the 1st quarter. BlackRock Inc. now owns 16,103,415 shares of the basic materials company's stock worth $787,457,000 after acquiring an additional 272,913 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Commercial Metals by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company's stock worth $550,481,000 after purchasing an additional 142,062 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Commercial Metals by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,611,020 shares of the basic materials company's stock valued at $380,859,000 after buying an additional 160,228 shares in the last quarter. State Street Corp boosted its holdings in Commercial Metals by 22.3% in the first quarter. State Street Corp now owns 7,494,116 shares of the basic materials company's stock worth $312,971,000 after acquiring an additional 1,367,997 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Commercial Metals by 26.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company's stock valued at $123,834,000 after acquiring an additional 527,709 shares in the last quarter. Institutional investors own 86.90% of the company's stock.
Commercial Metals Company Profile
(
Get Free Report)
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.
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