Shares of Commercial Metals (NYSE:CMC) fell 5.2% during trading on Wednesday . The company traded as low as $15.63 and last traded at $15.68, 1,096,799 shares were traded during mid-day trading. A decline of 26% from the average session volume of 1,481,922 shares. The stock had previously closed at $16.53.

A number of brokerages have commented on CMC. TheStreet upgraded Commercial Metals from a “c+” rating to a “b” rating in a research note on Tuesday, July 16th. Bank of America restated an “underperform” rating and issued a $18.00 target price on shares of Commercial Metals in a research note on Friday, May 31st. Deutsche Bank downgraded Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Thursday, July 11th. They noted that the move was a valuation call. ValuEngine upgraded Commercial Metals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Citigroup set a $16.00 target price on Commercial Metals and gave the company a “hold” rating in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Commercial Metals has an average rating of “Hold” and an average price target of $19.10.

The stock’s 50 day moving average is $17.45. The company has a market cap of $1.95 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.69. The company has a quick ratio of 1.86, a current ratio of 3.00 and a debt-to-equity ratio of 0.84.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, June 20th. The basic materials company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, equities analysts predict that Commercial Metals will post 2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, July 5th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.06%. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMC. Cullen Frost Bankers Inc. bought a new stake in shares of Commercial Metals during the first quarter valued at approximately $51,000. Centaurus Financial Inc. bought a new stake in shares of Commercial Metals during the first quarter valued at approximately $60,000. Macquarie Group Ltd. bought a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $100,000. Rehmann Capital Advisory Group raised its holdings in shares of Commercial Metals by 2,690.0% during the first quarter. Rehmann Capital Advisory Group now owns 8,370 shares of the basic materials company’s stock valued at $143,000 after buying an additional 8,070 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Commercial Metals by 38.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,217 shares of the basic materials company’s stock valued at $157,000 after buying an additional 2,561 shares during the last quarter. 90.55% of the stock is currently owned by institutional investors.

About Commercial Metals (NYSE:CMC)

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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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