Commercial Metals (NYSE:CMC) Hits New 52-Week High - Here's What Happened

Commercial Metals Company (NYSE:CMC - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $64.56 and last traded at $64.1810, with a volume of 18588 shares. The stock had previously closed at $64.08.

Wall Street Analyst Weigh In

• 3 Discounted Steel Stocks You Can DCA Into Today

Several equities analysts have recently issued reports on CMC shares. Wall Street Zen raised Commercial Metals from a "buy" rating to a "strong-buy" rating in a research report on Friday. Wells Fargo & Company increased their price target on Commercial Metals from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a report on Wednesday, October 8th. Citigroup upgraded shares of Commercial Metals from a "neutral" rating to a "buy" rating and boosted their target price for the company from $60.00 to $65.00 in a research report on Friday, October 17th. Finally, The Goldman Sachs Group boosted their price target on Commercial Metals from $69.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Commercial Metals presently has a consensus rating of "Moderate Buy" and an average target price of $64.20.

View Our Latest Analysis on Commercial Metals

Commercial Metals Price Performance

• Cleveland-Cliffs Stock Rises On Earnings, New Momentum?

The firm's 50-day moving average is $59.29 and its two-hundred day moving average is $55.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 2.03. The company has a market cap of $7.10 billion, a P/E ratio of 84.07, a PEG ratio of 1.94 and a beta of 1.34.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company posted $0.90 EPS. Commercial Metals's revenue was up 5.9% on a year-over-year basis. Analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

• Commercial Metals Winning Infrastructure and Datacenter Customers

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Commercial Metals's dividend payout ratio (DPR) is presently 94.74%.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson acquired 1,722 shares of the business's stock in a transaction dated Monday, October 20th. The shares were purchased at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the acquisition, the director directly owned 6,722 shares in the company, valued at $390,480.98. The trade was a 34.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Commercial Metals by 2.3% in the third quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company's stock valued at $451,000 after buying an additional 180 shares in the last quarter. Spire Wealth Management increased its holdings in Commercial Metals by 42.4% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company's stock worth $35,000 after acquiring an additional 183 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in Commercial Metals by 4.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 4,755 shares of the basic materials company's stock worth $272,000 after acquiring an additional 184 shares during the period. Quadrant Capital Group LLC grew its position in shares of Commercial Metals by 2.9% in the third quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company's stock valued at $380,000 after purchasing an additional 188 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Commercial Metals by 4.4% during the second quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company's stock worth $235,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors 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.

Featured Stories

• Five stocks we like better than Commercial Metals
• Should You Add These Warren Buffett Stocks to Your Portfolio?
• Insiders Swarm Vertical Aerospace Stock Ahead of Make-or-Break Reveal
• EV Stocks and How to Profit from Them
• Symbotic Reanimates Market, Long-Term Targets Are Back In Focus
• What is the Nasdaq? Complete Overview with History
• These Are the Hottest Upgrades From the Q3 Reporting Cycle

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Commercial Metals Right Now?

Before you consider Commercial Metals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Commercial Metals wasn't on the list.

While Commercial Metals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here