Janus Henderson Group PLC Buys 25,816 Shares of Commercial Metals (NYSE:CMC)

Janus Henderson Group PLC raised its position in Commercial Metals (NYSE:CMC) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,159,769 shares of the basic materials company’s stock after acquiring an additional 25,816 shares during the period. Janus Henderson Group PLC’s holdings in Commercial Metals were worth $68,160,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates increased its stake in Commercial Metals by 23.5% in the fourth quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company’s stock valued at $5,950,000 after acquiring an additional 22,619 shares during the period. Pacer Advisors Inc. boosted its holdings in Commercial Metals by 63.8% during the fourth quarter. Pacer Advisors Inc. now owns 21,424 shares of the basic materials company’s stock valued at $1,072,000 after purchasing an additional 8,342 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Commercial Metals by 45.3% in the 4th quarter. Blue Trust Inc. now owns 3,964 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 1,235 shares during the period. Advisors Preferred LLC raised its holdings in shares of Commercial Metals by 114.0% in the 4th quarter. Advisors Preferred LLC now owns 60,810 shares of the basic materials company’s stock worth $3,051,000 after buying an additional 32,393 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Commercial Metals by 13.5% during the 4th quarter. Fulton Bank N.A. now owns 6,775 shares of the basic materials company’s stock worth $339,000 after buying an additional 806 shares during the period. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

CMC stock traded down $0.46 during midday trading on Tuesday, reaching $59.55. 561,587 shares of the company’s stock traded hands, compared to its average volume of 895,201. The company has a 50-day simple moving average of $54.57 and a two-hundred day simple moving average of $54.60. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $60.85. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 12.50 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, analysts anticipate that Commercial Metals will post 4.71 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Monday, July 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals’s dividend payout ratio is presently 15.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on CMC shares. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Bank of America lowered their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.50.

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.