Commercial Metals Company Declares Quarterly Dividend of $0.18 (NYSE:CMC)

Commercial Metals Company (NYSE:CMC - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.18 per share by the basic materials company on Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%.

Commercial Metals has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Commercial Metals to earn $4.69 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 15.4%.

Commercial Metals Stock Performance

NYSE CMC traded up $0.69 during trading hours on Wednesday, reaching $49.65. The stock had a trading volume of 67,407 shares, compared to its average volume of 1,124,736. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The stock has a fifty day moving average of $46.18 and a 200 day moving average of $48.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.82. The stock has a market cap of $5.61 billion, a P/E ratio of 82.59, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 0.94% and a return on equity of 8.23%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of Commercial Metals by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company's stock worth $47,552,000 after acquiring an additional 56,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Commercial Metals by 2.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,580 shares of the basic materials company's stock worth $15,624,000 after purchasing an additional 9,526 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Commercial Metals by 1.4% during the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company's stock worth $4,186,000 after buying an additional 1,219 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Commercial Metals by 1.8% in the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company's stock valued at $2,453,000 after buying an additional 941 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Commercial Metals by 614.9% in the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company's stock valued at $541,000 after buying an additional 10,121 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

CMC has been the topic of a number of analyst reports. BMO Capital Markets dropped their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. began coverage on Commercial Metals in a research report on Friday, May 30th. They set a "neutral" rating and a $52.00 target price on the stock. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, May 27th. UBS Group cut their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Commercial Metals presently has an average rating of "Hold" and a consensus price target of $58.00.

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.

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