Easterly Investment Partners LLC raised its position in Commercial Metals Company (NYSE:CMC - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 424,280 shares of the basic materials company's stock after purchasing an additional 28,283 shares during the period. Commercial Metals accounts for 1.6% of Easterly Investment Partners LLC's investment portfolio, making the stock its 10th largest holding. Easterly Investment Partners LLC owned approximately 0.38% of Commercial Metals worth $19,521,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at $34,000. UMB Bank n.a. grew its position in shares of Commercial Metals by 51.9% in 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. Wayfinding Financial LLC purchased a new position in shares of Commercial Metals in the 1st quarter valued at $47,000. Finally, South Plains Financial Inc. purchased a new position in shares of Commercial Metals in the 4th quarter valued at $73,000. 86.90% of the stock is owned by hedge funds and other institutional investors.
Commercial Metals Stock Up 0.7%
CMC stock opened at $51.28 on Thursday. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The stock has a market capitalization of $5.74 billion, a PE ratio of 165.42, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. 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 company has a fifty day moving average of $49.20 and a 200-day moving average of $47.81.
Commercial Metals (NYSE:CMC - Get Free Report) last released 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). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The firm 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 posted $1.02 EPS. The firm's revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that Commercial Metals Company will post 3.09 EPS for the current year.
Commercial Metals Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is 232.26%.
Wall Street Analysts Forecast Growth
CMC has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 target price (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Friday, June 20th. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and three have assigned 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.
Read Our Latest Stock Analysis on CMC
Commercial Metals Profile
(
Free Report)
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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