Commercial Metals (NYSE:CMC) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Commercial Metals (NYSE:CMC) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Several other research firms have also commented on CMC. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Jefferies Financial Group set a $70.00 price objective on shares of Commercial Metals and gave the company a “hold” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group boosted their price target on shares of Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Commercial Metals from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.20.

Commercial Metals Trading Down 1.1%

NYSE CMC opened at $58.90 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 2.03. The stock has a market capitalization of $6.54 billion, a P/E ratio of 77.50, a PEG ratio of 1.94 and a beta of 1.34. The firm’s 50-day moving average is $58.81 and its two-hundred day moving average is $53.91. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. On average, sell-side analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, October 30th. Commercial Metals’s dividend payout ratio is 94.74%.

Insiders Place Their Bets

In related news, Director John R. Mcpherson acquired 1,722 shares of the business’s stock in a transaction on Monday, October 20th. The shares were bought at an average price of $58.09 per share, with a total value of $100,030.98. Following the completion of the acquisition, the director owned 6,722 shares in the company, valued at $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Commercial Metals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new stake in shares of Commercial Metals during the third quarter worth about $25,000. Rothschild Investment LLC increased its position in Commercial Metals by 169.6% during the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after buying an additional 324 shares during the period. National Bank of Canada FI increased its position in Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after buying an additional 244 shares during the period. Spire Wealth Management boosted its holdings in shares of Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 183 shares during the period. Finally, SBI Securities Co. Ltd. grew its position in shares of Commercial Metals by 282.3% during the second quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 511 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.