Commercial Metals (NYSE:CMC) – Equities research analysts at KeyCorp decreased their Q2 2018 earnings per share (EPS) estimates for shares of Commercial Metals in a note issued to investors on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.25 per share for the quarter, down from their previous forecast of $0.34.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $0.06 EPS. Commercial Metals’s quarterly revenue was up 24.6% compared to the same quarter last year.
Shares of Commercial Metals (NYSE:CMC) traded up $0.09 during mid-day trading on Tuesday, hitting $24.83. 43,499 shares of the stock traded hands, compared to its average volume of 2,014,750. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. Commercial Metals has a 12 month low of $17.05 and a 12 month high of $25.90. The stock has a market cap of $2,890.00, a price-to-earnings ratio of 45.81 and a beta of 1.27.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in shares of Commercial Metals during the 4th quarter worth $34,374,000. Janus Henderson Group PLC purchased a new position in Commercial Metals in the 2nd quarter worth $29,018,000. Deprince Race & Zollo Inc. raised its position in Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after purchasing an additional 1,117,876 shares during the period. BlueCrest Capital Management Ltd raised its position in Commercial Metals by 1,334.4% in the 4th quarter. BlueCrest Capital Management Ltd now owns 649,676 shares of the basic materials company’s stock worth $13,851,000 after purchasing an additional 604,384 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of Commercial Metals in the fourth quarter valued at about $12,477,000. 88.77% of the stock is owned by institutional investors.
In related news, EVP Tracy L. Porter sold 13,601 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $250.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy L. Porter sold 6,935 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total transaction of $174,345.90. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, January 12th. Commercial Metals’s dividend payout ratio (DPR) is presently 88.89%.
Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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