Commercial Metals (NYSE:CMC) Director Acquires $100,039.50 in Stock

Commercial Metals (NYSE:CMC - Get Free Report) 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 price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Commercial Metals Trading Up 0.2 %

Shares of CMC stock traded up $0.08 during trading hours on Friday, hitting $41.93. 1,677,515 shares of the company were exchanged, compared to its average volume of 949,073. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a 50 day simple moving average of $47.01 and a two-hundred day simple moving average of $51.89. The firm has a market cap of $4.74 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. Equities analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Institutional Trading of Commercial Metals

Several hedge funds have recently bought and sold shares of CMC. State Street Corp raised its holdings in Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock worth $320,439,000 after buying an additional 24,665 shares during the last quarter. Boston Partners lifted its position in Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after acquiring an additional 243,921 shares in the last quarter. Geode Capital Management LLC boosted its stake in Commercial Metals by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock valued at $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Commercial Metals by 87.0% in the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after purchasing an additional 893,094 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CMC shares. UBS Group reduced their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. BMO Capital Markets decreased their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Finally, Morgan Stanley decreased 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 report on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Commercial Metals has a consensus rating of "Hold" and an average price target of $60.33.

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.