KeyCorp Boosts Commercial Metals (NYSE:CMC) Price Target to $50.00

Commercial Metals (NYSE:CMCGet Rating) had its target price increased by KeyCorp from $46.00 to $50.00 in a research note published on Tuesday, Marketbeat.com reports. The firm currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup increased their price objective on Commercial Metals from $42.00 to $44.00 and gave the company a neutral rating in a research report on Friday, October 14th. StockNews.com cut shares of Commercial Metals from a buy rating to a hold rating in a research note on Tuesday. BMO Capital Markets raised their price target on shares of Commercial Metals from $37.00 to $43.00 and gave the stock a market perform rating in a research note on Friday, October 14th. Finally, The Goldman Sachs Group lowered their price target on shares of Commercial Metals from $41.00 to $37.00 and set a neutral rating for the company in a report on Thursday, October 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $44.63.

Commercial Metals Trading Up 2.4 %

Shares of NYSE CMC opened at $48.58 on Tuesday. The stock has a market capitalization of $5.70 billion, a P/E ratio of 4.88 and a beta of 1.31. The stock’s 50 day moving average price is $42.06 and its two-hundred day moving average price is $39.70. Commercial Metals has a 52-week low of $30.59 and a 52-week high of $49.41. The company has a quick ratio of 1.67, a current ratio of 2.54 and a debt-to-equity ratio of 0.34.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, October 26th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.32%. Commercial Metals’s payout ratio is currently 6.43%.

Insider Transactions at Commercial Metals

In other news, SVP Ty L. Garrison sold 696 shares of the business’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $43.75, for a total transaction of $30,450.00. Following the transaction, the senior vice president now directly owns 133,939 shares in the company, valued at approximately $5,859,831.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ty L. Garrison sold 6,900 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $45.76, for a total value of $315,744.00. Following the transaction, the senior vice president now owns 124,508 shares in the company, valued at approximately $5,697,486.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ty L. Garrison sold 696 shares of the company’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $43.75, for a total transaction of $30,450.00. Following the completion of the transaction, the senior vice president now owns 133,939 shares in the company, valued at approximately $5,859,831.25. The disclosure for this sale can be found here. Insiders have sold 21,900 shares of company stock worth $973,138 in the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ronald Blue Trust Inc. acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $33,000. Triasima Portfolio Management inc. grew its position in shares of Commercial Metals by 48.3% during the 2nd quarter. Triasima Portfolio Management inc. now owns 1,075 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Commercial Metals during the 2nd quarter worth approximately $35,000. Finally, National Bank of Canada FI grew its position in shares of Commercial Metals by 32.8% during the 2nd quarter. National Bank of Canada FI now owns 1,062 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Commercial Metals

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Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

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