Commercial Metals (NYSE:CMC) Insider Jennifer Durbin Sells 25,050 Shares of Stock

Commercial Metals Company (NYSE:CMC) insider Jennifer Durbin sold 25,050 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares in the company, valued at approximately $4,228,813.60. The trade was a 32.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Commercial Metals Stock Up 0.9%

Shares of CMC stock opened at $82.64 on Thursday. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $84.12. The stock’s fifty day moving average price is $71.96 and its 200 day moving average price is $62.56. 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 $9.17 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.49.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were paid a $0.18 dividend. The ex-dividend date was Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Commercial Metals’s dividend payout ratio (DPR) is 18.56%.

Institutional Investors Weigh In On Commercial Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMC. State Street Corp raised its stake in shares of Commercial Metals by 2.6% in the 3rd quarter. State Street Corp now owns 6,270,373 shares of the basic materials company’s stock valued at $359,167,000 after acquiring an additional 161,195 shares during the period. Boston Partners raised its holdings in shares of Commercial Metals by 1.9% in the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after purchasing an additional 67,139 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Commercial Metals by 10.0% in the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock valued at $156,215,000 after buying an additional 290,256 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after acquiring an additional 112,267 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Commercial Metals by 4.8% during the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock worth $95,144,000 after buying an additional 76,365 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CMC shares. Jefferies Financial Group set a $85.00 target price on Commercial Metals and gave the stock a “buy” rating in a report on Thursday, January 8th. Morgan Stanley upped their price target on shares of Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Citigroup increased their price target on Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $84.00 price objective on shares of Commercial Metals in a report on Tuesday, December 30th. Finally, Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

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.