Commercial Metals Company (NYSE:CMC) Announces Quarterly Dividend of $0.20

Commercial Metals Company (NYSE:CMC) declared a quarterly dividend on Tuesday, October 13th. Stockholders of record on Wednesday, October 28th will be given a dividend of $0.20 per share by the basic materials company on Wednesday, November 11th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 28th.

Commercial Metals has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 4 years. Commercial Metals has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $7.45 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.7%.

Commercial Metals Trading Up 1.1%

CMC opened at $64.81 on Wednesday. Commercial Metals has a one year low of $53.08 and a one year high of $84.87. The company has a market cap of $7.17 billion, a P/E ratio of 12.20, a PEG ratio of 0.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. The business’s 50-day simple moving average is $67.38 and its 200-day simple moving average is $68.23.

Insider Activity

In other news, Director John McPherson purchased 1,390 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $71.92 per share, for a total transaction of $99,968.80. Following the purchase, the director directly owned 21,927 shares of the company’s stock, valued at $1,576,989.84. This represents a 6.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Commercial Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its position in Commercial Metals by 11.5% in the 1st quarter. California Public Employees Retirement System now owns 277,877 shares of the basic materials company’s stock valued at $17,070,000 after buying an additional 28,693 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Commercial Metals in the 2nd quarter valued at $2,354,000. Engineers Gate Manager LP acquired a new position in Commercial Metals in the 2nd quarter valued at $2,620,000. Bank of America Corp DE increased its stake in Commercial Metals by 87.4% in the 1st quarter. Bank of America Corp DE now owns 1,631,213 shares of the basic materials company’s stock valued at $100,205,000 after buying an additional 760,985 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Commercial Metals during the 2nd quarter worth $2,096,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a steel and metals manufacturer, fabricator and recycler headquartered in Irving, Texas. Founded in 1915, the company operates a vertically integrated business that collects and processes ferrous scrap, produces steel and supplies products used in construction and infrastructure projects.

CMC’s product portfolio includes reinforcing bar, merchant bar, wire rod, structural components and other steel products. Through its fabrication and construction services, the company also processes and prepares reinforcing steel for commercial, industrial, transportation and other building projects.