Brokerages Set Commercial Metals (NYSE:CMC) Target Price at $65.25

Shares of Commercial Metals (NYSE:CMC) have been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $65.25.

Several analysts recently issued reports on CMC shares. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $54.79 on Wednesday. The stock has a fifty day moving average of $52.91 and a 200-day moving average of $54.22. The company has a market capitalization of $6.30 billion, a PE ratio of 11.41 and a beta of 1.14. Commercial Metals has a one year low of $41.86 and a one year high of $61.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.31%. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

Institutional Investors Weigh In On Commercial Metals

Several hedge funds have recently bought and sold shares of CMC. First Dallas Securities Inc. raised its holdings in Commercial Metals by 0.8% in the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after acquiring an additional 185 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Commercial Metals by 0.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after acquiring an additional 187 shares during the last quarter. Tectonic Advisors LLC boosted its position in Commercial Metals by 1.6% in the third quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock valued at $977,000 after buying an additional 272 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Commercial Metals by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after buying an additional 276 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 282 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.