Commercial Metals (NYSE:CMC) Rating Lowered to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Commercial Metals (NYSE:CMC) from an outperform rating to a neutral rating in a research report released on Friday, Marketbeat.com reports.

Other analysts also recently issued reports about the company. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price target on the stock. UBS Group reiterated a “sell” rating and issued a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. Finally, The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.67.

Commercial Metals Stock Performance

NYSE:CMC opened at $48.89 on Friday. The company’s 50-day moving average is $57.06 and its two-hundred day moving average is $55.03. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

Hedge Funds Weigh In On Commercial Metals

Several institutional investors have recently modified their holdings of CMC. Tectonic Advisors LLC boosted its holdings 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 purchasing an additional 272 shares during the period. Assetmark Inc. boosted its stake in shares of Commercial Metals by 6.4% in the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock valued at $253,000 after buying an additional 277 shares during the period. Inspire Investing LLC boosted its stake in shares of Commercial Metals by 4.6% in the 2nd quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock valued at $351,000 after buying an additional 284 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Commercial Metals by 4.2% during the third quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company’s stock worth $394,000 after buying an additional 287 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Commercial Metals by 6.0% during the third quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company’s stock worth $325,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.