Easterly Investment Partners LLC Increases Holdings in Commercial Metals Company (NYSE:CMC)

Easterly Investment Partners LLC boosted its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 424,280 shares of the basic materials company's stock after purchasing an additional 28,283 shares during the quarter. Commercial Metals makes up 1.6% of Easterly Investment Partners LLC's portfolio, making the stock its 10th biggest holding. Easterly Investment Partners LLC owned 0.38% of Commercial Metals worth $19,521,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CMC. Wealth Enhancement Advisory Services LLC increased its stake in Commercial Metals by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after purchasing an additional 2,846 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Commercial Metals by 25.6% in the first quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 669 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Commercial Metals by 460.1% in the first 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% during the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock worth $612,000 after buying an additional 325 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Commercial Metals by 9.5% in the 4th quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock worth $784,000 after purchasing an additional 1,369 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMC. JPMorgan Chase & Co. raised their target price on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of "Hold" and an average target price of $57.50.

Commercial Metals Trading Up 0.2%

CMC stock traded up $0.13 during trading on Friday, hitting $52.63. The company had a trading volume of 734,538 shares, compared to its average volume of 996,454. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $49.46 and a 200-day moving average price of $47.84. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 169.77, a PEG ratio of 2.14 and a beta of 1.26.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results 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). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The business's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is currently 232.26%.

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.