Commercial Metals (NYSE:CMC - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $53.67, but opened at $52.00. Commercial Metals shares last traded at $55.06, with a volume of 162,782 shares trading hands.
Wall Street Analysts Forecast Growth
CMC has been the topic of a number of research analyst reports. StockNews.com lowered Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, June 20th. Bank of America decreased their price target on shares of Commercial Metals from $70.00 to $69.00 and set a "buy" rating for the company in a report on Wednesday, June 26th. Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.75.
Read Our Latest Stock Analysis on CMC
Commercial Metals Stock Up 5.1 %
The stock has a market cap of $6.49 billion, a PE ratio of 11.83 and a beta of 1.14. The business has a 50 day moving average price of $52.85 and a 200 day moving average price of $54.47. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27.
Commercial Metals Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is presently 15.00%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Boston Partners lifted its position in shares of Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company's stock valued at $180,752,000 after buying an additional 3,063,241 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Commercial Metals during the second quarter worth about $50,132,000. Jacobs Levy Equity Management Inc. raised its position in shares of Commercial Metals by 388.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company's stock worth $17,550,000 after purchasing an additional 237,477 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Commercial Metals by 1,701.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company's stock valued at $13,387,000 after buying an additional 215,131 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Commercial Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company's stock worth $632,577,000 after buying an additional 191,345 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.
Commercial Metals Company Profile
(
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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