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

Commercial Metals (NYSE:CMC) Director John R. Mcpherson bought 2,475 shares of the company’s stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Commercial Metals Stock Performance

Shares of NYSE CMC traded down $0.42 during midday trading on Monday, hitting $40.53. 2,448,720 shares of the stock traded hands, compared to its average volume of 1,267,527. The firm has a market capitalization of $4.58 billion, a P/E ratio of 36.51, a PEG ratio of 2.62 and a beta of 1.16. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a 50-day moving average of $48.07 and a two-hundred day moving average of $52.48.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. On average, equities analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analyst Weigh In

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

Institutional Trading of Commercial Metals

Several large investors have recently added to or reduced their stakes in CMC. GAMMA Investing LLC raised its position in Commercial Metals by 5,679.9% in the first quarter. GAMMA Investing LLC now owns 150,913 shares of the basic materials company’s stock worth $6,944,000 after acquiring an additional 148,302 shares during the period. Cim LLC increased its stake in shares of Commercial Metals by 1.8% in the 4th quarter. Cim LLC now owns 41,784 shares of the basic materials company’s stock worth $2,072,000 after purchasing an additional 744 shares in the last quarter. Park Square Financial Group LLC bought a new position in Commercial Metals in the 4th quarter worth $33,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Commercial Metals during the fourth quarter valued at $4,475,000. Finally, Heck Capital Advisors LLC bought a new stake in Commercial Metals during the fourth quarter valued at about $34,000. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals 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. 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.