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

Janus Henderson Group PLC grew its position in shares of Commercial Metals (NYSE:CMC) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,159,769 shares of the basic materials company’s stock after buying an additional 25,816 shares during the quarter. Janus Henderson Group PLC owned 1.00% of Commercial Metals worth $68,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Commercial Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock valued at $632,577,000 after acquiring an additional 191,345 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Commercial Metals by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,611,020 shares of the basic materials company’s stock worth $380,859,000 after buying an additional 160,228 shares during the last quarter. Norges Bank purchased a new position in shares of Commercial Metals in the fourth quarter worth approximately $94,722,000. Victory Capital Management Inc. grew its position in Commercial Metals by 241.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock valued at $90,564,000 after buying an additional 1,279,617 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Commercial Metals by 4.5% during the first quarter. Principal Financial Group Inc. now owns 1,774,666 shares of the basic materials company’s stock valued at $104,297,000 after buying an additional 76,742 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

NYSE:CMC traded down $0.46 during trading hours on Tuesday, hitting $59.55. 561,587 shares of the stock traded hands, compared to its average volume of 895,201. 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 has a 1 year low of $39.85 and a 1 year high of $60.85. The stock has a 50 day moving average price of $54.57 and a 200 day moving average price 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 (NYSE:CMC) last released 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 net margin of 6.95% and a return on equity of 14.62%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $2.02 EPS. Commercial Metals’s revenue for the quarter was down 11.4% on a year-over-year basis. Sell-side analysts forecast that Commercial Metals will post 4.71 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Monday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, July 1st. Commercial Metals’s dividend payout ratio is currently 15.00%.

Analysts Set New Price Targets

CMC has been the topic of several analyst reports. Bank of America dropped their price target on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average price target of $60.50.

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.