Commercial Metals Company $CMC Shares Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd grew its stake in shares of Commercial Metals Company (NYSE:CMC) by 94.9% during the first quarter, HoldingsChannel reports. The firm owned 9,052 shares of the basic materials company’s stock after buying an additional 4,407 shares during the period. Bayforest Capital Ltd’s holdings in Commercial Metals were worth $416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its position in shares of Commercial Metals by 3.2% during the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock worth $340,000 after acquiring an additional 226 shares during the last quarter. Choreo LLC increased its holdings in Commercial Metals by 2.1% during the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock worth $509,000 after purchasing an additional 228 shares during the last quarter. National Bank of Canada FI increased its holdings in Commercial Metals by 80.3% during the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after buying an additional 268 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Commercial Metals by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock valued at $73,000 after buying an additional 279 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 2.3%

NYSE:CMC opened at $58.40 on Wednesday. The firm has a market capitalization of $6.54 billion, a P/E ratio of 188.39, a P/E/G ratio of 1.81 and a beta of 1.33. The business has a 50 day simple moving average of $54.50 and a 200 day simple moving average of $49.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals’s payout ratio is 232.26%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMC shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Wolfe Research upgraded shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. lifted their price target on Commercial Metals from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. UBS Group boosted their price objective on Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 13th. Finally, Morgan Stanley set a $57.50 target price on Commercial Metals in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.81.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.