Key Points
- Insider sale: Jennifer Durbin sold 25,050 shares at an average price of $79.97 for $2,003,248.50, reducing her stake by 32.14% to 52,880 shares (≈$4.23M).
- EPS beat: Commercial Metals reported Q EPS of $1.84 vs. $1.55 expected and revenue of $2.12B vs. $2.06B, with revenue up 11% year‑over‑year.
- Dividend and analyst view: The company paid a $0.18 quarterly dividend ($0.72 annualized, 0.9% yield) and analysts’ consensus is a "Moderate Buy" with an average price target of $72.70 after several recent upgrades.
Commercial Metals Company (NYSE:CMC - Get Free Report) insider Jennifer Durbin sold 25,050 shares of the company's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the completion of the sale, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Commercial Metals Stock Up 0.9%
CMC opened at $82.64 on Thursday. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $84.12. The firm has a market cap of $9.17 billion, a P/E ratio of 21.30, a PEG ratio of 0.44 and a beta of 1.49. The business's fifty day simple moving average is $71.96 and its 200 day simple moving average is $62.56. 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 posted its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.29. The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The business's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, equities research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.
Commercial Metals Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Commercial Metals's payout ratio is presently 18.56%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CMC shares. Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Morgan Stanley increased their price target on shares of Commercial Metals from $68.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, January 9th. The Goldman Sachs Group restated a "buy" rating and issued a $84.00 target price on shares of Commercial Metals in a research note on Tuesday, December 30th. Zacks Research downgraded shares of Commercial Metals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Commercial Metals from $68.00 to $79.00 and gave the company an "overweight" rating in a report on Monday, December 15th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Commercial Metals presently has an average rating of "Moderate Buy" and an average price target of $72.70.
Read Our Latest Research Report on CMC
Hedge Funds Weigh In On Commercial Metals
Large investors have recently modified their holdings of the stock. State Street Corp increased its position in Commercial Metals by 2.6% in the third quarter. State Street Corp now owns 6,270,373 shares of the basic materials company's stock worth $359,167,000 after purchasing an additional 161,195 shares during the period. Boston Partners increased its stake in 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 in the last quarter. Franklin Resources Inc. lifted its holdings in Commercial Metals by 10.0% during the second quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company's stock worth $156,215,000 after acquiring an additional 290,256 shares in the last quarter. American Century Companies Inc. grew its stake in Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company's stock valued at $104,474,000 after acquiring an additional 112,267 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Commercial Metals by 4.8% in the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company's stock worth $95,144,000 after acquiring an additional 76,365 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.
About Commercial Metals
(
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.
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