Commercial Metals Co. (NYSE:CMC) – Stock analysts at KeyCorp decreased their FY2016 earnings per share (EPS) estimates for Commercial Metals in a research note issued on Monday. KeyCorp analyst P. Gibbs now expects that the brokerage will earn $0.92 per share for the year, down from their prior forecast of $0.96. KeyCorp also issued estimates for Commercial Metals’ FY2017 earnings at $0.95 EPS.

Other equities analysts have also recently issued reports about the stock. Jefferies Group reaffirmed a “buy” rating on shares of Commercial Metals in a research note on Saturday, June 4th. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Monday. Bank of America Corp. cut shares of Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research note on Thursday, June 2nd. Clarkson Capital cut shares of Commercial Metals from a “neutral” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Citigroup Inc. started coverage on shares of Commercial Metals in a research note on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Commercial Metals currently has an average rating of “Hold” and an average target price of $16.69.

Commercial Metals (NYSE:CMC) opened at 16.03 on Tuesday. Commercial Metals has a 52 week low of $12.44 and a 52 week high of $18.50. The stock has a market capitalization of $1.84 billion, a P/E ratio of 14.56 and a beta of 1.59. The firm’s 50-day moving average is $15.85 and its 200-day moving average is $16.73.

In other Commercial Metals news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $16.36, for a total value of $38,724.12. Following the transaction, the director now directly owns 69,252 shares in the company, valued at approximately $1,132,962.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CMC. Prudential Financial Inc. raised its position in shares of Commercial Metals by 0.8% in the first quarter. Prudential Financial Inc. now owns 122,432 shares of the company’s stock valued at $2,078,000 after buying an additional 1,000 shares during the last quarter. State Street Corp raised its position in shares of Commercial Metals by 9.6% in the first quarter. State Street Corp now owns 5,148,819 shares of the company’s stock valued at $87,374,000 after buying an additional 451,718 shares during the last quarter. BlackRock Group LTD raised its position in shares of Commercial Metals by 18.7% in the first quarter. BlackRock Group LTD now owns 124,123 shares of the company’s stock valued at $2,107,000 after buying an additional 19,551 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Commercial Metals by 1.8% in the first quarter. UBS Asset Management Americas Inc. now owns 104,626 shares of the company’s stock valued at $1,775,000 after buying an additional 1,864 shares during the last quarter. Finally, Springbok Capital Management LLC raised its position in shares of Commercial Metals by 710.0% in the first quarter. Springbok Capital Management LLC now owns 8,100 shares of the company’s stock valued at $137,000 after buying an additional 7,100 shares during the last quarter. Institutional investors and hedge funds own 93.28% of the company’s stock.

About Commercial Metals

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.

5 Day Chart for NYSE:CMC

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