Commercial Metals (NYSE:CMC – Get Free Report) declared a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.18 per share by the basic materials company on Wednesday, July 10th. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, July 1st.
Commercial Metals has raised its dividend payment by an average of 10.1% per year over the last three years. Commercial Metals has a dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $5.64 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 12.8%.
Commercial Metals Stock Up 2.8 %
Shares of NYSE:CMC opened at $54.99 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 11.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The company’s fifty day moving average is $54.59 and its 200-day moving average is $53.63. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81.
Analyst Upgrades and Downgrades
CMC has been the topic of a number of recent analyst reports. Bank of America reduced their price objective on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets upped their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.50.
Read Our Latest Research Report on Commercial Metals
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.
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