Shares of Commercial Metals Co. (NYSE:CMC) dropped 2.9% on Friday . The company traded as low as $15.85 and last traded at $15.86, with a volume of 438,515 shares traded. The stock had previously closed at $16.33.

CMC has been the subject of a number of recent analyst reports. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, May 30th. Bank of America Corp. cut Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price objective for the company. in a research report on Thursday, June 2nd. Jefferies Group reissued a “buy” rating on shares of Commercial Metals in a research report on Saturday, June 4th. Finally, Clarkson Capital cut Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.79.

The company has a 50 day moving average price of $16.72 and a 200 day moving average price of $16.49. The stock has a market capitalization of $1.82 billion and a P/E 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 analysts’ consensus estimates of $0.25 by $0.05. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company had revenue of $1.23 billion for the quarter. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. Equities analysts forecast that Commercial Metals Co. will post $0.98 earnings per share for the current year.

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

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

Several hedge funds recently bought and sold shares of the company. Trexquant Investment LP bought a new stake in Commercial Metals during the fourth quarter worth $1,542,000. Advisors Asset Management Inc. raised its stake in Commercial Metals by 3.3% in the fourth quarter. Advisors Asset Management Inc. now owns 198,061 shares of the company’s stock worth $2,711,000 after buying an additional 6,399 shares in the last quarter. Marshall Wace LLP bought a new stake in Commercial Metals during the fourth quarter worth $2,758,000. Mutual of America Capital Management LLC raised its stake in 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 worth $1,079,000 after buying an additional 2,031 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Commercial Metals by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 298,000 shares of the company’s stock worth $4,080,000 after buying an additional 4,700 shares in the last quarter.

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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