WealthPlan Investment Management LLC Makes New Investment in Commercial Metals Company (NYSE:CMC)

Key Points

• WealthPlan Investment Management LLC purchased a new position in Commercial Metals Company, acquiring 4,800 shares valued at approximately $221,000 in the first quarter.
• Commercial Metals reported a quarterly earnings miss, with an EPS of $0.74, falling short of the consensus estimate of $0.85, and a revenue of $2.02 billion compared to expectations of $2.04 billion.
• The company announced a quarterly dividend of $0.18 per share, representing an annualized dividend yield of 1.4%, with a dividend payout ratio currently at 232.26%.

WealthPlan Investment Management LLC bought a new position in Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,800 shares of the basic materials company's stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMC. Isthmus Partners LLC lifted its holdings in Commercial Metals by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock worth $340,000 after purchasing an additional 226 shares in the last quarter. Choreo LLC lifted its holdings in shares of Commercial Metals by 2.1% in the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock worth $509,000 after buying an additional 228 shares in the last quarter. Mariner LLC boosted its position in shares of Commercial Metals by 0.9% during the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after acquiring an additional 232 shares during the last quarter. UMB Bank n.a. grew its stake in 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 in the last quarter. Finally, Fifth Third Bancorp grew its stake in Commercial Metals by 21.2% during the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Up 2.1%

Shares of Commercial Metals stock opened at $53.07 on Friday. 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 current ratio of 2.86 and a quick ratio of 2.00. The stock has a market cap of $5.94 billion, a PE ratio of 171.21, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. The firm has a fifty day moving average price of $50.83 and a 200 day moving average price of $48.15.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) 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%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. Equities research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is presently 232.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. BMO Capital Markets restated 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. UBS Group reissued a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price target on Commercial Metals in a report on Wednesday, June 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $57.50.

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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