Brokerages Set Commercial Metals (NYSE:CMC) Price Target at $60.33

Commercial Metals (NYSE:CMC - Get Free Report) has earned an average rating of "Hold" from the eight research firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.33.

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, BMO Capital Markets reduced 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.

Insider Activity

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

Institutional Investors Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Commercial Metals during the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals in the fourth quarter worth $34,000. V Square Quantitative Management LLC raised its stake in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 267 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of Commercial Metals stock traded up $2.41 on Friday, reaching $48.50. 896,705 shares of the stock were exchanged, compared to its average volume of 956,012. The business has a fifty day moving average price of $44.63 and a two-hundred day moving average price of $50.49. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.48 billion, a PE ratio of 43.69, a PEG ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. As a group, research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

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.