Brokerages Set Commercial Metals (NYSE:CMC) PT at $65.25

Shares of Commercial Metals (NYSE:CMC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $65.25.

CMC has been the topic of several recent analyst reports. Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the company a "market perform" rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 price objective on the stock. Finally, Bank of America cut their price objective on Commercial Metals from $70.00 to $69.00 and set a "buy" rating on the stock in a report on Wednesday, June 26th.

Commercial Metals Trading Down 4.1 %

Shares of Commercial Metals stock traded down $2.20 during trading on Wednesday, hitting $51.27. 1,055,654 shares of the company were exchanged, compared to its average volume of 861,657. The firm has a market capitalization of $5.90 billion, a P/E ratio of 11.14 and a beta of 1.14. Commercial Metals has a 1-year low of $39.94 and a 1-year high of $61.26. The firm's fifty day moving average price is $53.02 and its 200 day moving average price is $54.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, October 31st. Commercial Metals's payout ratio is 15.00%.

Institutional Investors Weigh In On Commercial Metals

Institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Commercial Metals during the 3rd quarter worth approximately $66,000. Archer Investment Corp bought a new stake in shares of Commercial Metals during the 2nd quarter worth approximately $77,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock worth $86,000 after purchasing an additional 282 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Commercial Metals during the 2nd quarter worth approximately $129,000. Finally, BOKF NA raised its stake in shares of Commercial Metals by 45.7% during the 1st quarter. BOKF NA now owns 3,353 shares of the basic materials company's stock worth $197,000 after purchasing an additional 1,051 shares in the last quarter. 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.