Commercial Metals Company $CMC Shares Purchased by Bayforest Capital Ltd

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

Several other institutional investors and hedge funds have also recently modified their holdings of CMC. Wealth Enhancement Advisory Services LLC lifted its position in shares of Commercial Metals by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after buying an additional 2,846 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Commercial Metals by 25.6% during the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock worth $151,000 after purchasing an additional 669 shares in the last quarter. SG Americas Securities LLC raised its stake in Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after purchasing an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Commercial Metals by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after purchasing an additional 325 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Commercial Metals by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 385,527 shares of the basic materials company's stock worth $17,738,000 after buying an additional 22,682 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 2.3%

NYSE:CMC opened at $58.40 on Wednesday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The stock has a fifty day moving average price of $54.50 and a two-hundred day moving average price of $49.25. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 188.39, a PEG ratio of 1.81 and a beta of 1.33.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.04 billion. During the same quarter last year, the business earned $1.02 EPS. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CMC shares. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price target (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Wells Fargo & Company raised shares of Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. UBS Group lifted their price target on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Commercial Metals from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

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