Commercial Metals (CMC) To Go Ex-Dividend on October 31st

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Tuesday, October 15th, RTT News reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.18 per share by the basic materials company on Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, October 31st.

Commercial Metals has increased its dividend payment by an average of 10.1% per year over the last three years. Commercial Metals has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $4.94 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 14.6%.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $54.31 on Tuesday. The stock has a 50 day moving average price of $52.89 and a 200-day moving average price of $54.22. Commercial Metals has a one year low of $41.86 and a one year high of $61.26. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 11.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24.

Analyst Ratings Changes

A number of research firms have weighed in on CMC. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group began coverage on Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Finally, BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

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.