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

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 given a dividend of 0.18 per share by the basic materials company on Wednesday, July 9th. This represents a $0.72 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, June 30th.

Commercial Metals has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.9%

CMC traded down $0.43 on Friday, hitting $48.62. 3,521,958 shares of the company were exchanged, compared to its average volume of 987,088. The firm has a fifty day simple moving average of $46.57 and a two-hundred day simple moving average of $48.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.82. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The stock has a market capitalization of $5.49 billion, a PE ratio of 81.03, 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 quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 8.23% and a net margin of 0.94%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. Commercial Metals's revenue was down 5.1% compared to the same quarter last year. Sell-side analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Insider Activity at Commercial Metals

In other news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Amundi raised its stake in Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company's stock valued at $114,000 after buying an additional 291 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company's stock worth $2,453,000 after purchasing an additional 941 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Commercial Metals by 1.4% in the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company's stock worth $4,186,000 after purchasing an additional 1,219 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 valued at $15,624,000 after acquiring an additional 9,526 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Commercial Metals by 614.9% during the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company's stock valued at $541,000 after acquiring an additional 10,121 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CMC has been the topic of several recent research reports. 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 price target on the stock. BMO Capital Markets cut their price objective 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. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday. Morgan Stanley reiterated an "equal weight" rating on shares of Commercial Metals in a research report on Friday. Finally, UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.