UBS Group Reiterates Sell Rating for Commercial Metals (NYSE:CMC)

UBS Group reissued their sell rating on shares of Commercial Metals (NYSE:CMC - Free Report) in a report issued on Thursday morning, MarketBeat.com reports. They currently have a $56.00 target price on the basic materials company's stock, down from their prior target price of $62.00.

CMC has been the topic of several other research reports. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a "market perform" rating in a research report on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a "buy" rating and a $65.00 price objective for the company. Wolfe Research lowered Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $65.40.

Commercial Metals Stock Down 4.9 %

NYSE:CMC traded down $2.99 on Thursday, hitting $58.61. The stock had a trading volume of 1,119,769 shares, compared to its average volume of 854,651. The company has a market cap of $6.68 billion, a PE ratio of 14.88, a P/E/G ratio of 2.73 and a beta of 1.15. The business's fifty day moving average is $57.71 and its 200 day moving average is $55.18. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $45.87 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.07 billion. On average, equities research analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. Commercial Metals's dividend payout ratio is 17.39%.

Hedge Funds Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently made changes to their positions in CMC. Wealth Enhancement Advisory Services LLC raised its holdings in Commercial Metals by 0.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company's stock valued at $1,473,000 after buying an additional 187 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Commercial Metals by 25.4% during the second quarter. Blue Trust Inc. now owns 6,682 shares of the basic materials company's stock valued at $393,000 after buying an additional 1,353 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Commercial Metals during the second quarter valued at approximately $1,140,000. Raymond James & Associates lifted its stake in Commercial Metals by 23.3% in the second quarter. Raymond James & Associates now owns 214,716 shares of the basic materials company's stock worth $11,807,000 after acquiring an additional 40,621 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Commercial Metals in the second quarter valued at $788,000. Institutional investors own 86.90% of the company's stock.

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.