Dennis Arriola Acquires 2,000 Shares of Commercial Metals (NYSE:CMC) Stock

Commercial Metals Company (NYSE:CMC) Director Dennis Arriola acquired 2,000 shares of Commercial Metals stock in a transaction dated Tuesday, January 20th. The stock was bought at an average price of $74.69 per share, for a total transaction of $149,380.00. Following the completion of the purchase, the director owned 9,238 shares of the company’s stock, valued at approximately $689,986.22. This represents a 27.63% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.41 and a beta of 1.49. The stock’s 50-day moving average is $68.97 and its two-hundred day moving average is $61.03. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $79.61.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.29. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts forecast that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, January 16th. Commercial Metals’s payout ratio is 18.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMC. JPMorgan Chase & Co. upgraded shares of Commercial Metals from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $64.00 to $78.00 in a research note on Friday, December 5th. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Morgan Stanley raised their target price on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday. Finally, Citigroup increased their price target on shares of Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMC. Root Financial Partners LLC purchased a new stake in Commercial Metals in the third quarter valued at approximately $25,000. Rothschild Investment LLC increased its holdings in shares of Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 324 shares during the period. SBI Securities Co. Ltd. raised its position in Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 511 shares during the last quarter. Spire Wealth Management boosted its stake in Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares during the period. Finally, Signaturefd LLC grew its position in Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.