Bayforest Capital Ltd Sells 7,928 Shares of Commercial Metals Company $CMC

Bayforest Capital Ltd decreased its holdings in shares of Commercial Metals Company (NYSE:CMC) by 89.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 900 shares of the basic materials company’s stock after selling 7,928 shares during the period. Bayforest Capital Ltd’s holdings in Commercial Metals were worth $62,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Commercial Metals by 11.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 225,817 shares of the basic materials company’s stock valued at $13,312,000 after buying an additional 22,587 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Commercial Metals by 430.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company’s stock valued at $1,675,000 after buying an additional 23,738 shares during the period. American Century Companies Inc. grew its holdings in shares of Commercial Metals by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after buying an additional 112,267 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $910,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Commercial Metals by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock valued at $50,670,000 after buying an additional 64,491 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC opened at $67.99 on Friday. The company has a market cap of $7.54 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.41 and a beta of 1.47. The firm has a 50-day moving average of $67.07 and a 200-day moving average of $67.34. Commercial Metals Company has a one year low of $43.01 and a one year high of $84.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. Commercial Metals’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities analysts forecast that Commercial Metals Company will post 6.75 earnings per share for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 6th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Commercial Metals’s payout ratio is currently 16.04%.

Insider Buying and Selling at Commercial Metals

In other news, insider Jennifer J. Durbin sold 25,050 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares of the company’s stock, valued at $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CMC shares. Morgan Stanley boosted their price target on shares of Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 9th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price target for the company. KeyCorp started coverage on shares of Commercial Metals in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.