Commercial Metals (NYSE:CMC) Director John R. Mcpherson Purchases 2,475 Shares of Stock

Commercial Metals (NYSE:CMC) Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction 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 completion of the transaction, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Commercial Metals Price Performance

Shares of CMC opened at $40.53 on Tuesday. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a 50-day simple moving average of $47.89 and a two-hundred day simple moving average of $52.38. The stock has a market cap of $4.58 billion, a PE ratio of 36.51, a P/E/G ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last issued its quarterly 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 analysts’ expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 120.00%.

Institutional Investors Weigh In On Commercial Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Commercial Metals by 5,679.9% in the 1st quarter. GAMMA Investing LLC now owns 150,913 shares of the basic materials company’s stock valued at $6,944,000 after acquiring an additional 148,302 shares during the last quarter. Cim LLC increased its holdings in shares of Commercial Metals by 1.8% in the 4th quarter. Cim LLC now owns 41,784 shares of the basic materials company’s stock valued at $2,072,000 after acquiring an additional 744 shares during the period. Park Square Financial Group LLC acquired a new position in Commercial Metals in the fourth quarter valued at $33,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Commercial Metals during the 4th quarter valued at approximately $4,475,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth approximately $34,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. BMO Capital Markets dropped their target price on shares of 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 dropped their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.33.

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.