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

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

The company has a quick ratio of 1.86, a current ratio of 3.00 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 2.10 and a beta of 1.69. The company has a 50-day simple moving average of $17.45.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 20th. The basic materials company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Equities research analysts expect that Commercial Metals will post 2.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, July 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Wednesday, July 3rd. Commercial Metals’s dividend payout ratio (DPR) is currently 32.21%.

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

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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