Commercial Metals (NYSE:CMC) Short Interest Update

Commercial Metals (NYSE:CMC - Get Free Report) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 4,170,000 shares, an increase of 20.9% from the January 31st total of 3,450,000 shares. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is presently 4.2 days. Approximately 3.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMC. Jefferies Financial Group decreased their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective on the stock. Finally, BMO Capital Markets reduced their price objective on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $61.83.

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Commercial Metals Trading Down 1.3 %

Shares of NYSE CMC traded down $0.60 during trading on Friday, reaching $45.85. The company had a trading volume of 1,710,498 shares, compared to its average volume of 1,153,518. The company's fifty day moving average price is $49.58 and its 200-day moving average price is $53.33. Commercial Metals has a 12 month low of $43.81 and a 12 month high of $64.53. The stock has a market cap of $5.21 billion, a P/E ratio of 41.30, a PEG ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting analysts' consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $1.49 EPS. The business's revenue was down 4.7% on a year-over-year basis. As a group, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. Commercial Metals's dividend payout ratio (DPR) is presently 64.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 229 shares during the period. Mariner LLC raised its stake in Commercial Metals by 0.9% during the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after buying an additional 232 shares during the period. Truist Financial Corp raised its stake in Commercial Metals by 3.5% during the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock worth $355,000 after buying an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after buying an additional 254 shares during the period. Finally, Arizona State Retirement System raised its stake in Commercial Metals by 0.8% during the 4th quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company's stock worth $1,655,000 after buying an additional 262 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

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.