Shares of Commercial Metals Co. (NYSE:CMC) dropped 3.1% during trading on Friday . The stock traded as low as $15.86 and last traded at $15.88, with a volume of 552,511 shares traded. The stock had previously closed at $16.39.

CMC has been the subject of several recent analyst reports. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, May 30th. Clarkson Capital cut Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Bank of America Corp. cut Commercial Metals to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Commercial Metals in a research report on Saturday, June 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.79.

The stock has a 50 day moving average of $16.69 and a 200 day moving average of $16.41. The stock has a market capitalization of $1.82 billion and a price-to-earnings ratio of 14.45.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 23rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. During the same period in the previous year, the business earned $0.58 EPS. The company earned $1.23 billion during the quarter. Commercial Metals’s revenue was down 18.5% compared to the same quarter last year. Equities research analysts predict that Commercial Metals Co. will post $0.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Thursday, July 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, July 5th.

In other Commercial Metals news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $16.36, for a total transaction of $38,724.12. Following the completion of the sale, the director now owns 69,252 shares in the company, valued at approximately $1,132,962.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Other hedge funds have modified their holdings of the company. California Public Employees Retirement System boosted its stake in shares of Commercial Metals by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 298,000 shares of the company’s stock valued at $4,080,000 after buying an additional 4,700 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Commercial Metals by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 111,600 shares of the company’s stock valued at $1,528,000 after buying an additional 6,000 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Commercial Metals by 51.6% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 74,537 shares of the company’s stock valued at $1,022,000 after buying an additional 25,360 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Commercial Metals by 2.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 78,812 shares of the company’s stock valued at $1,079,000 after buying an additional 2,031 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $2,758,000.

Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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