The combined assessments of all eight market analysts who are currently following Commercial Metals (NYSE: CMC), as reported by Bloomberg Ratings, have resulted in an overall recommendation of “Hold.” Two analysts recommended buying the stock, while five others recommended holding onto the stock instead. In the previous year, brokers’ average price target for the subsequent 12 months was $51.14 per share.
Recently, CMC has attracted the attention of a variety of different brokerage companies that are interested in acquiring the company. On January 4 of this year, Bank of America released a report in which they began providing coverage on shares of Commercial Metals. They have assigned the stock a rating of “neutral” and set a price objective of $55.00 for the share price of the company’s stock. BMO Capital Markets categorized the stock as “market perform” and raised their target price on Commercial Metals from $49.00 to $56.00 in a research report published on Tuesday, January 10. In addition, the target price was increased by $0. The report also stated that they think the stock will succeed in achieving the new price objective. Citigroup raised its rating for Commercial Metals from “neutral” to “overweight” and established a price objective of $42.00 for the stock in a public research note on Friday, October 14. In a research report about commercial metals published on Tuesday, January 10, Goldman Sachs Group gave the company a “neutral” rating and increased their price objective for the stock from $48.00 to $53.00. In addition, the firm raised its price target for the stock from $48.00 to $53.00. The results of the analysis were published. StockNews.com changed its recommendation for commercial metals from “hold” to “buy” in a research report published on Wednesday. This change indicates that the website now recommends purchasing shares of the company.
Ty L. Garrison, Senior Vice President and General Counsel of Commercial Metals, sold 6,900 shares of the company’s stock on October 31. This is another piece of news. The sale of the shares resulted in total revenue of $315,744.00, with the average price at which each share could be purchased being $45.76. At the moment, the senior vice president is the owner of a stake in the company equal to 124,508 shares, which have a market value of 5,697,486.08 dollars. Because of the filing with the SEC, information regarding the transaction is now available to the general public. On the website of the SEC, you can locate this particular file. On January 3, Chief Executive Officer Barbara Smith made a transaction in which she sold 150,000 shares of the company’s stock. This is another development on this topic. The stock was sold at an average price of $48.11 per share, and a total of $7,216,500.00 was realized from the sale of the shares. Following the successful conclusion of the transaction, the CEO now has direct ownership of 227,651 company shares, which have a combined value of $10,952,289,61. This page contains the filing containing the information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the filing by clicking here.
Additionally, on October 31, Senior Vice President and Chief Operating Officer Ty L. Garrison sold 6,900 shares of Commercial Metals stock. These shares were sold on the same day. The sale of the shares took place at an average price of $45.76 per share, which led to a total sale volume of $315,744.00. Following the successful conclusion of the transaction, the senior vice president now directly owns a total of 124,508 shares of the company, which have a combined value of $5,697,486. Disclosures that are related to the sale might be found in this section of the website. According to the most recent financial filings, company insiders sold a total of 162,400 shares of company stock during the past ninety days, bringing the total value of those sales to $7,804,384. The company’s insiders hold one percent of the company’s total shares or two hundred and twenty of those shares.
During the most recent period, significant investors have been engaged in the buying and selling shares in the company. Envestnet Asset Management Inc. increased the amount of Commercial Metals stock owned by an 81.4% margin during the second quarter. Envestnet Asset Management Inc. now holds a total of 230,568 shares of the basic materials company’s stock following the purchase of an additional 103,438 shares during the period in question. The stock is currently valued at $7,632,000. During the second quarter, Xponance Inc. raised the amount of Commercial Metals stock owned by 7.2%, bringing the total to 100%. During the most recent month, Xponance Inc. purchased an additional 1,274 stock in the basic materials business, bringing the total number of shares it owns in this sector to 18,904. These shares are currently worth a total of $626,000 as of right now. As a new investment during the second quarter, approximately 650,000 dollars were put into commercial metals by Verition Fund Management LLC. During the second quarter, Kornitzer Capital Management Inc. (KS) achieved a 9.7 percent increase in the proportion of Commercial Metals stock it owned. Since the beginning of the most recent quarter, Kornitzer Capital Management Inc. (KS) has acquired an additional 2,395 stock held by the basic materials company. This brings the total number of shares it owns to 26,995, with an equivalent value of $894,000. Bailard Inc. purchased a new investment in commercial metals during the third quarter at approximately $480,000. Institutional investors and hedge funds collectively own 84.30% of the total number of shares in the company, making up the majority of the shareholders.
When trading started on Friday, a CMC stock went for $52.15 per share. The company has a price-to-earnings ratio of 5.08, and its stock has a beta value of 1.29. The stock is currently valued at $6.12 billion on the market. A debt-to-equity ratio of 0.30 can be found, while the current ratio comes in at 2.99, and the quick ratio sits at 1.97. The price of commercial metals dropped to its all-time low of $31.47 one year ago, while it reached its all-time high of $56.88. The simple moving average of the company’s stock price over the past 50 days is $49.60, while the average price over the last 200 days is $43.45.
In addition, the business has recently announced that it will be giving out dividends every quarter, and the first one of these distributions is scheduled to take place on February 2. On January 19, $0.16 dividend checks will be sent out to stockholders on record. This results in a dividend payment of $0.64 per year, which equates to a yield of 1.23% on the investment. On Wednesday, January 18, the date that will no longer count toward the total dividend will be removed from consideration. At this moment in time, the dividend payout ratio for Commercial Metals stands at 6.24 percent.