Commercial Metals (NYSE:CMC) Posts Earnings Results, Misses Expectations By $0.11 EPS

Commercial Metals (NYSE:CMC - Get Free Report) released its quarterly earnings data on Monday. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11), Zacks reports. Commercial Metals had a return on equity of 8.23% and a net margin of 0.94%. During the same period last year, the company posted $1.02 earnings per share. Commercial Metals's quarterly revenue was down 2.8% on a year-over-year basis.

Commercial Metals Stock Down 0.9%

Shares of CMC opened at $48.62 on Monday. The company has a market capitalization of $5.49 billion, a P/E ratio of 81.03, a PEG ratio of 2.70 and a beta of 1.27. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The business's 50 day simple moving average is $46.57 and its 200-day simple moving average is $48.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.82 and a quick ratio of 1.94.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is currently 120.00%.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction on Friday, April 4th. The shares were bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, the director now owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company's stock.

Institutional Trading of Commercial Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi lifted its position in Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company's stock worth $114,000 after buying an additional 291 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of 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 worth $541,000 after purchasing an additional 10,121 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Commercial Metals by 1.8% during the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company's stock valued at $2,453,000 after purchasing an additional 941 shares during the last quarter. Royal Bank of Canada increased its holdings 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 valued at $4,186,000 after purchasing an additional 1,219 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Commercial Metals by 2.9% in the 1st 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 during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research report on Friday. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Friday. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Commercial Metals in a research report on Friday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $58.00.

About Commercial Metals

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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