Macquarie set a $21.00 price objective on Commercial Metals (NYSE:CMC) in a report released on Tuesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on CMC. Deutsche Bank downgraded shares of Commercial Metals to a buy rating in a report on Tuesday, October 2nd. Seaport Global Securities started coverage on shares of Commercial Metals in a report on Thursday, October 11th. They issued a neutral rating and a $20.00 price objective for the company. ValuEngine downgraded shares of Commercial Metals from a hold rating to a sell rating in a report on Friday, October 12th. Citigroup reduced their price objective on shares of Commercial Metals from $24.00 to $19.00 and set a neutral rating for the company in a report on Monday, October 29th. Finally, Longbow Research set a $25.00 price objective on shares of Commercial Metals and gave the stock a buy rating in a report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $21.44.

CMC stock traded down $0.27 during trading on Tuesday, hitting $15.80. The company had a trading volume of 667,773 shares, compared to its average volume of 1,267,030. The company has a market capitalization of $1.90 billion, a P/E ratio of 10.60 and a beta of 1.32. Commercial Metals has a fifty-two week low of $15.23 and a fifty-two week high of $26.72. The company has a quick ratio of 2.75, a current ratio of 2.68 and a debt-to-equity ratio of 0.88.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 7th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. Commercial Metals had a net margin of 2.51% and a return on equity of 12.32%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities analysts anticipate that Commercial Metals will post 2.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Monday, January 14th. Commercial Metals’s payout ratio is 32.21%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in Commercial Metals by 79.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 3,822 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Commercial Metals in the 3rd quarter valued at about $207,000. Global Financial Private Capital LLC acquired a new stake in Commercial Metals in the 3rd quarter valued at about $244,000. First Republic Investment Management Inc. acquired a new stake in Commercial Metals in the 3rd quarter valued at about $251,000. Finally, Riverhead Capital Management LLC lifted its holdings in Commercial Metals by 27.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 12,403 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 2,700 shares during the last quarter. 87.00% of the stock is owned by institutional investors.

About Commercial Metals

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.

Recommended Story: How does a reverse stock split work?

Analyst Recommendations for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.