Fintel reports that on April 5, 2023,
B of A Securities
upgraded
their outlook
for Commercial Metals (NYSE:CMC) from Neutral
to Buy
.
Analyst Price Forecast Suggests 25.46% Upside
As of March 30, 2023,
the average one-year price target for Commercial Metals is $57.85.
The forecasts range from a low of $39.39 to a high of $79.80.
The average price target represents an increase of 25.46% from its latest reported closing price of $46.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Commercial Metals
is $8,335MM, a decrease of 9.09%.
The projected annual non-GAAP EPS
is $6.33.
Commercial Metals Declares $0.16 Dividend
On March 21, 2023 the company declared a regular
quarterly dividend of $0.16 per share ($0.64 annualized).
Shareholders of record as of April 3, 2023
will receive the payment on April 12, 2023.
Previously, the company paid $0.16 per share.
At the current share price of $46.11 / share,
the stock’s dividend yield is 1.39%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.10%,
the lowest has been 1.13%,
and the highest has been 3.75%.
The standard deviation of yields is 0.60 (n=237).
The current dividend yield is
1.19 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.07.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.33%,
demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Handelsbanken Fonder AB
holds 13K shares
representing 0.01% ownership of the company.
No change in the last quarter.
AFDVX – Applied Finance Explorer Fund Investor Class
holds 64K shares
representing 0.05% ownership of the company.
In it’s prior filing, the firm reported owning 53K shares, representing
an increase
of 17.02%.
The firm
increased
its portfolio allocation in CMC by 16.19% over the last quarter.
FMDCX – Federated Mid-Cap Index Fund Service Shares
holds 14K shares
representing 0.01% ownership of the company.
In it’s prior filing, the firm reported owning 15K shares, representing
a decrease
of 6.68%.
The firm
increased
its portfolio allocation in CMC by 14.78% over the last quarter.
Guggenheim Capital
holds 20K shares
representing 0.02% ownership of the company.
In it’s prior filing, the firm reported owning 30K shares, representing
a decrease
of 49.34%.
The firm
decreased
its portfolio allocation in CMC by 30.32% over the last quarter.
FMAT – Fidelity MSCI Materials Index ETF
holds 45K shares
representing 0.04% ownership of the company.
In it’s prior filing, the firm reported owning 46K shares, representing
a decrease
of 0.85%.
The firm
increased
its portfolio allocation in CMC by 3.96% over the last quarter.
What is the Fund Sentiment?
There are 892 funds or institutions reporting positions in Commercial Metals.
This is an increase
of
107
owner(s) or 13.63% in the last quarter.
Average portfolio weight of all funds dedicated to CMC is 0.36%,
an increase
of 9.08%.
Total shares owned by institutions decreased
in the last three months by 1.12% to 117,471K shares.
The put/call ratio of CMC is 0.49, indicating a
bullish
outlook.
Commercial Metals Background Information
(This description is provided by the company.)
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, related materials and services through a network including seven electric arc furnace (“EAF”) mini mills, two EAF micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland.
See all Commercial Metals regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
