Commercial Metals Company (NYSE:CMC) shares traded -1.03% lower at $48.08 on Wall Street last session.
In accordance with the data, 8 analysts cover Commercial Metals Company (NYSE:CMC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $53.00 and a low of $39.00, we find $44.00. Given the previous closing price of $48.58, this indicates a potential downside of -9.43 percent. CMC stock price is now 14.32% away from the 50-day moving average and 20.54% away from the 200-day moving average. The market capitalization of the company currently stands at $5.66B.
It has been rated a hold by 4 analysts and a buy by 3. Brokers who have rated the stock have averaged $45.43 as their price target over the next twelve months.
With the price target maintained at $45, Exane BNP Paribas recently Upgraded its rating from Neutral to Outperform for Commercial Metals Company (NYSE: CMC). On January 19, 2022, KeyBanc Capital Markets Upgraded its previous ‘Sector Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $42, while ‘JP Morgan’ rates the stock as ‘Overweight’.
In other news, GARRISON TY L, SVP Operations sold 8,100 shares of the company’s stock on Nov 01. The stock was sold for $372,924 at an average price of $46.04. Upon completion of the transaction, the SVP Operations now directly owns 116,408 shares in the company, valued at $5.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 31, SVP Operations GARRISON TY L sold 6,900 shares of the business’s stock. A total of $315,744 was realized by selling the stock at an average price of $45.76. This leaves the insider owning 124,508 shares of the company worth $5.99 million. Insiders disposed of 901,509 shares of company stock worth roughly $43.34 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CMC stock. A new stake in Commercial Metals Company shares was purchased by FRANKLIN RESOURCES INC during the first quarter worth $44,104,000. AMALGAMATED FINANCIAL CORP. invested $3,716,000 in shares of CMC during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Commercial Metals Company valued at approximately $3,265,000. AIGEN INVESTMENT MANAGEMENT, LP acquired a new stake in CMC for approximately $2,109,000. SEVEN EIGHT CAPITAL, LP purchased a new stake in CMC valued at around $1,984,000 in the second quarter. In total, there are 475 active investors with 87.00% ownership of the company’s stock.
Commercial Metals Company (NYSE: CMC) opened at $47.92 on Wednesday. During the past 12 months, Commercial Metals Company has had a low of $30.59 and a high of $49.41. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 2.50, and a quick ratio of 1.70. The fifty day moving average price for CMC is $42.26 and a two-hundred day moving average price translates $39.95 for the stock.
The latest earnings results from Commercial Metals Company (NYSE: CMC) was released for Aug, 2022. According to the Steel Company, earnings per share came in at $2.45, beating analysts’ expectations of $2.23 by 0.22. This compares to $1.24 EPS in the same period last year. The net profit margin was 13.70% and return on equity was 41.30% for CMC. The company reported revenue of $2.41 billion for the quarter, compared to $2.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.54 percent. For the current quarter, analysts expect CMC to generate $2.23B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/10/2022. Investors who held shares on 10/27/2022 were paid a $0.16 dividend. On an annualized basis, this represents a $0.64 dividend and a 1.33% percent yield. There was an ex-dividend date of 10/26/2022 for this dividend. In terms of dividend payout ratio, CMC is presently at 5.60%.
Commercial Metals Company(CMC) Company Profile
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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. It also manufactures and sells finished long steel products, including reinforcing bar, merchant bar, light structural, and other special sections, as well as semi-finished billets for rerolling and forging applications. In addition, the company provides fabricated steel products used to reinforce concrete primarily in the construction of commercial and non-commercial buildings, hospitals, convention centers, industrial plants, power plants, highways, bridges, arenas, stadiums, and dams; sells and rents construction-related products and equipment to concrete installers and other businesses; and manufactures and sells strength bars for the truck trailer industry, special bar steels for the energy market, and armor plates for military vehicles. Further, it manufactures rebars, merchant bars, and wire rods; and sells fabricated rebars, wire meshes, fabricated meshes, assembled rebar cages, and other fabricated rebar by-products to fabricators, manufacturers, distributors, and construction companies. The company was founded in 1915 and is headquartered in Irving, Texas.