Zacks Investment Research cut shares of Commercial Metals Company (NYSE:CMC) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Commercial Metals Company has three segments – manufacturing, recycling, and marketing and trading. Activities are primarily concerned with metals related activities. The manufacturing segment is the dominant and most rapidly expanding segment in terms of assets employed, capital expenditures, operating profit and number of employees. The recycling segment is engaged in processing secondary, or scrap, metals for further recycling into new metal products. The marketing and trading segment buys and sells primary and secondary metals, and fabricated metals. “

Several other research firms have also issued reports on CMC. Jefferies Group lowered Commercial Metals Company from a buy rating to a hold rating and set a $24.00 price objective for the company. in a research note on Monday, December 12th. They noted that the move was a valuation call. Clarkson Capital lowered Commercial Metals Company from a neutral rating to a sell rating in a research note on Tuesday, December 13th. Deutsche Bank AG began coverage on Commercial Metals Company in a research note on Thursday, January 5th. They set a buy rating and a $27.00 price objective for the company. TheStreet raised Commercial Metals Company from a hold rating to a buy rating in a research note on Monday, November 14th. Finally, DA Davidson lowered Commercial Metals Company from a buy rating to a neutral rating and lifted their price objective for the company from $19.00 to $22.00 in a research note on Friday, November 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Commercial Metals Company has a consensus rating of Hold and an average price target of $20.38.

Shares of Commercial Metals Company (NYSE:CMC) traded up 0.44% during trading on Thursday, reaching $20.38. The company’s stock had a trading volume of 1,636,479 shares. Commercial Metals Company has a 52-week low of $12.44 and a 52-week high of $24.64. The stock has a 50-day moving average of $22.54 and a 200-day moving average of $18.09. The stock has a market cap of $2.36 billion, a P/E ratio of 67.04 and a beta of 1.38.

Commercial Metals Company (NYSE:CMC) last posted its quarterly earnings results on Monday, January 9th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.06. Commercial Metals Company had a return on equity of 6.77% and a net margin of 0.79%. The company earned $1.08 billion during the quarter. During the same period in the prior year, the firm earned $0.22 earnings per share. Commercial Metals Company’s revenue for the quarter was down 6.9% on a year-over-year basis. Analysts predict that Commercial Metals Company will post $1.06 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 17th will be issued a $0.12 dividend. The ex-dividend date is Thursday, January 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.36%. Commercial Metals Company’s dividend payout ratio is currently 154.84%.

In other news, VP Adam B. Batchelor sold 5,372 shares of Commercial Metals Company stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $20.37, for a total value of $109,427.64. Following the transaction, the vice president now owns 21,852 shares in the company, valued at $445,125.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anthony A. Massaro sold 2,421 shares of Commercial Metals Company stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $20.52, for a total value of $49,678.92. Following the completion of the transaction, the director now owns 69,398 shares in the company, valued at approximately $1,424,046.96. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. Nisa Investment Advisors LLC increased its position in Commercial Metals Company by 85.8% in the second quarter. Nisa Investment Advisors LLC now owns 18,950 shares of the company’s stock valued at $320,000 after buying an additional 8,750 shares in the last quarter. LS Investment Advisors LLC increased its position in Commercial Metals Company by 68.9% in the second quarter. LS Investment Advisors LLC now owns 6,859 shares of the company’s stock valued at $116,000 after buying an additional 2,798 shares in the last quarter. Bank of Montreal Can bought a new position in Commercial Metals Company during the second quarter valued at approximately $1,985,000. American Century Companies Inc. increased its position in Commercial Metals Company by 1.1% in the second quarter. American Century Companies Inc. now owns 475,620 shares of the company’s stock valued at $8,038,000 after buying an additional 5,405 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in Commercial Metals Company by 53.2% in the second quarter. First Midwest Bank Trust Division now owns 28,462 shares of the company’s stock valued at $481,000 after buying an additional 9,888 shares in the last quarter. Hedge funds and other institutional investors own 88.35% of the company’s stock.

About Commercial Metals Company

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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