Commercial Metals (NYSE:CMC) Director John Mcpherson Purchases 1,390 Shares

Commercial Metals Company (NYSE:CMC) Director John Mcpherson bought 1,390 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $71.92 per share, with a total value of $99,968.80. Following the transaction, the director directly owned 21,927 shares of the company’s stock, valued at $1,576,989.84. The trade was a 6.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Commercial Metals Price Performance

NYSE CMC opened at $71.60 on Friday. The firm’s fifty day simple moving average is $69.43 and its two-hundred day simple moving average is $70.17. The firm has a market capitalization of $7.92 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.42 and a beta of 1.52. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals Company has a 12-month low of $53.08 and a 12-month high of $84.87.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Analysts forecast that Commercial Metals Company will post 6.64 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals’s dividend payout ratio is presently 15.07%.

Commercial Metals announced that its board has approved a stock repurchase plan on Wednesday, August 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. USA Financial Formulas grew its stake in Commercial Metals by 67.6% in the 1st quarter. USA Financial Formulas now owns 496 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Global Retirement Partners LLC acquired a new position in Commercial Metals during the second quarter worth $34,000. Caitong International Asset Management Co. Ltd raised its position in Commercial Metals by 617.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 716 shares during the period. Los Angeles Capital Management LLC purchased a new position in Commercial Metals during the fourth quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Commercial Metals by 105.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,222 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMC shares. Weiss Ratings raised Commercial Metals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $85.00 price target on shares of Commercial Metals in a research report on Thursday, August 6th. Zacks Research upgraded Commercial Metals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a report on Friday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Commercial Metals from a “buy” rating to a “buy” rating in a research report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.18.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.