Bayforest Capital Ltd Sells 1,399 Shares of Commercial Metals Company $CMC

Bayforest Capital Ltd trimmed its position in shares of Commercial Metals Company (NYSE:CMC) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,653 shares of the basic materials company’s stock after selling 1,399 shares during the period. Bayforest Capital Ltd’s holdings in Commercial Metals were worth $374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Nuveen LLC bought a new position in Commercial Metals during the first quarter valued at about $44,345,000. Pacer Advisors Inc. boosted its holdings in Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock valued at $34,944,000 after purchasing an additional 742,503 shares in the last quarter. American Century Companies Inc. boosted its holdings in Commercial Metals by 86.1% during the first quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after purchasing an additional 734,265 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Commercial Metals by 27.5% during the first quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company’s stock valued at $142,139,000 after purchasing an additional 666,886 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Commercial Metals by 14.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock valued at $191,461,000 after purchasing an additional 539,309 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. JPMorgan Chase & Co. lifted their price objective on Commercial Metals from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their price objective on Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Bank of America boosted their target price on Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.39.

Commercial Metals Stock Down 1.4%

NYSE:CMC opened at $59.59 on Thursday. The stock’s fifty day moving average price is $57.75 and its two-hundred day moving average price is $51.27. 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 market cap of $6.67 billion, a price-to-earnings ratio of 192.21, a P/E/G ratio of 2.06 and a beta of 1.32. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.53.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, October 30th. Commercial Metals’s dividend payout ratio is 232.26%.

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.