Bayforest Capital Ltd Purchases 4,407 Shares of Commercial Metals Company $CMC

Key Points

• Bayforest Capital Ltd increased its holdings in Commercial Metals Company (CMC) by 94.9%, owning 9,052 shares valued at approximately $416,000 following a purchase of an additional 4,407 shares.
• Commercial Metals reported a quarterly earnings miss with EPS of $0.74, falling short of the $0.85 consensus estimate, alongside a year-over-year revenue decline of 2.8%.
• The company's dividend yield stands at 1.2% after announcing a quarterly dividend of $0.18 per share, although its payout ratio is notably high at 232.26%.

Bayforest Capital Ltd increased its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 94.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,052 shares of the basic materials company's stock after acquiring an additional 4,407 shares during the quarter. Bayforest Capital Ltd's holdings in Commercial Metals were worth $416,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CMC. National Bank of Canada FI lifted its stake in shares of Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 244 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals during the fourth quarter valued at $33,000. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the fourth quarter valued at $34,000. UMB Bank n.a. lifted its stake in shares of Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Commercial Metals during the first quarter valued at $47,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Performance

NYSE:CMC traded up $0.44 during mid-day trading on Monday, hitting $58.28. 192,202 shares of the stock were exchanged, compared to its average volume of 1,077,025. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 188.39, a price-to-earnings-growth ratio of 1.75 and a beta of 1.33. The firm's 50-day simple moving average is $54.88 and its 200 day simple moving average is $49.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. Commercial Metals's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals's payout ratio is 232.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMC. UBS Group upped their price target on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Wells Fargo & Company raised Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. Morgan Stanley set a $57.50 target price on Commercial Metals in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their target price on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of "Moderate Buy" and an average target price of $58.81.

About Commercial Metals

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.