4,800 Shares in Commercial Metals Company (NYSE:CMC) Bought by WealthPlan Investment Management LLC

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 purchased a new stake in Commercial Metals Company (NYSE:CMC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,800 shares of the basic materials company's stock, valued at approximately $221,000.

Several other large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC bought a new stake in Commercial Metals in the fourth quarter valued at $34,000. UMB Bank n.a. grew its position in Commercial Metals by 51.9% in 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. Wayfinding Financial LLC bought a new stake in Commercial Metals in the first quarter valued at $47,000. Finally, South Plains Financial Inc. bought a new stake in Commercial Metals in the fourth quarter valued at $73,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Trading Up 3.7%

Shares of CMC traded up $1.96 during trading hours on Tuesday, hitting $54.98. 282,090 shares of the stock traded hands, compared to its average volume of 1,103,308. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The firm has a market capitalization of $6.15 billion, a PE ratio of 177.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. The business has a fifty day moving average of $51.05 and a 200-day moving average of $48.16.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results 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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company earned $1.02 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Analysts expect that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently declared 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 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

Analyst Ratings Changes

A number of analysts have weighed in on CMC shares. Morgan Stanley set a $57.50 price target on Commercial Metals in a research report on Wednesday, June 25th. UBS Group reaffirmed a "neutral" rating on shares of Commercial Metals in a report on Friday, June 20th. BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 price target (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price target on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $57.50.

Commercial Metals 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.