Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 4th will be given a dividend of 0.12 per share by the basic materials company on Thursday, April 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%.
Commercial Metals has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Commercial Metals to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 21.4%.
Shares of Commercial Metals stock opened at $23.83 on Thursday. The company has a market capitalization of $2,725.68, a PE ratio of 24.34, a PEG ratio of 0.37 and a beta of 1.21. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $26.72.
Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.14. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. Commercial Metals’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. research analysts forecast that Commercial Metals will post 1.49 EPS for the current year.
In other Commercial Metals news, VP Adam R. Hickey sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $25.85, for a total value of $517,000.00. Following the completion of the transaction, the vice president now directly owns 15,632 shares in the company, valued at $404,087.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracy L. Porter sold 6,935 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. In the last three months, insiders sold 60,536 shares of company stock worth $1,541,915. 1.50% of the stock is owned by insiders.
A number of equities research analysts have recently commented on CMC shares. Goldman Sachs initiated coverage on Commercial Metals in a research report on Tuesday. They set a “sell” rating and a $25.00 price target on the stock. Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. ValuEngine raised Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating in a research report on Friday, March 9th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.63.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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