Insider Buying: Commercial Metals (NYSE:CMC) Director Buys 2,475 Shares of Stock

Commercial Metals (NYSE:CMC) Director John R. Mcpherson purchased 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the acquisition, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Commercial Metals Stock Down 1.0 %

CMC stock traded down $0.42 during midday trading on Monday, hitting $40.53. The stock had a trading volume of 2,448,720 shares, compared to its average volume of 1,267,527. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The business has a 50-day moving average of $48.07 and a two-hundred day moving average of $52.48. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley cut their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. BMO Capital Markets decreased their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Institutional Trading of Commercial Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in Commercial Metals in the fourth quarter worth $33,000. Heck Capital Advisors LLC bought a new position in Commercial Metals in the 4th quarter worth about $34,000. V Square Quantitative Management LLC grew its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. South Plains Financial Inc. purchased a new position in Commercial Metals in the fourth quarter worth about $73,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.