Commercial Metals (NYSE:CMC - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $47.41 and last traded at $47.74, with a volume of 658747 shares changing hands. The stock had previously closed at $48.89.
Analyst Ratings Changes
A number of research firms have recently weighed in on CMC. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 target price for the company. Wolfe Research lowered shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Finally, UBS Group restated a "sell" rating and set a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Commercial Metals currently has an average rating of "Hold" and an average price target of $64.17.
Check Out Our Latest Report on Commercial Metals
Commercial Metals Stock Performance
The company's 50 day moving average is $56.73 and its 200 day moving average is $54.92. The firm has a market cap of $5.43 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.
Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Commercial Metals's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. As a group, equities analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.
Commercial Metals Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. Commercial Metals's dividend payout ratio (DPR) is presently 17.39%.
Institutional Trading of Commercial Metals
Institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Commercial Metals in the third quarter valued at about $66,000. GAMMA Investing LLC increased its position in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 944 shares during the period. KBC Group NV raised its holdings in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock worth $170,000 after purchasing an additional 425 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of Commercial Metals in the 3rd quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Commercial Metals by 29.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company's stock worth $209,000 after purchasing an additional 870 shares during the period. Institutional investors own 86.90% of the company's stock.
About Commercial Metals
(
Get Free Report)
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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