Key Points
- Director Dennis Arriola purchased 2,000 shares of Commercial Metals on Jan. 20 at an average price of $74.69, boosting his holding by 27.63% to 9,238 shares (≈$690,000); the trade was disclosed on the SEC Form 4.
- Commercial Metals reported a quarter-beating performance with $1.84 EPS vs. $1.55 expected and $2.12 billion in revenue (up 11% year-over-year), and analysts project about $3.09 EPS for the fiscal year.
- The company declared a quarterly dividend of $0.18 per share (annualized $0.72, ~0.9% yield), payable Feb. 2 to shareholders of record on Jan. 19 (ex-dividend Jan. 16).
Commercial Metals Company (NYSE:CMC - Get Free Report) Director Dennis Arriola acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was acquired at an average price of $74.69 per share, for a total transaction of $149,380.00. Following the transaction, the director directly owned 9,238 shares of the company's stock, valued at $689,986.22. This represents a 27.63% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Commercial Metals Price Performance
Shares of NYSE CMC opened at $77.24 on Friday. The stock's 50-day simple moving average is $68.59 and its two-hundred day simple moving average is $60.84. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $79.61. The firm has a market capitalization of $8.57 billion, a P/E ratio of 19.91, a P/E/G 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.
Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.55 by $0.29. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.Commercial Metals's revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.
Commercial Metals Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 19th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 16th. Commercial Metals's payout ratio is presently 18.56%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Commercial Metals from $68.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, December 15th. The Goldman Sachs Group restated a "buy" rating and set a $84.00 price target on shares of Commercial Metals in a report on Tuesday, December 30th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Monday, October 27th. Weiss Ratings restated a "hold (c)" rating on shares of Commercial Metals in a research note on Wednesday. Finally, Morgan Stanley upped their target price on shares of Commercial Metals from $68.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.70.
Get Our Latest Stock Report on Commercial Metals
Institutional Trading of Commercial Metals
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in shares of Commercial Metals in the third quarter valued at $25,000. Rothschild Investment LLC raised its stake in Commercial Metals by 169.6% during the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 324 shares in the last quarter. SBI Securities Co. Ltd. lifted 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 purchasing an additional 511 shares during the last quarter. Spire Wealth Management grew its stake in shares of Commercial Metals by 42.4% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company's stock worth $35,000 after buying an additional 183 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company's stock worth $44,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.
About Commercial Metals
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Get Free Report)
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.
Further Reading
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