Commercial Metals (NYSE:CMC) Plans Quarterly Dividend of $0.18

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.18 per share by the basic materials company on Wednesday, July 10th. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, July 1st.

Commercial Metals has increased its dividend payment by an average of 10.1% per year over the last three years. Commercial Metals has a payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 12.7%.

Commercial Metals Price Performance

Shares of CMC opened at $52.67 on Friday. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 9.14 and a beta of 1.27. The stock has a 50 day moving average of $54.74 and a 200-day moving average of $53.22.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts forecast that Commercial Metals will post 4.85 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CMC. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets lifted their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd.

Insider Buying and Selling at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the transaction, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.