Commercial Metals (NYSE:CMC) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in Commercial Metals (NYSE:CMC - Free Report) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,880 shares of the basic materials company's stock after selling 93,397 shares during the quarter. Janus Henderson Group PLC owned about 0.63% of Commercial Metals worth $35,608,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMC. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after buying an additional 267 shares during the period. South Plains Financial Inc. acquired a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $73,000. Jones Financial Companies Lllp lifted its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after buying an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Commercial Metals during the fourth quarter worth $105,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Commercial Metals stock opened at $47.83 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a fifty day moving average of $44.70 and a two-hundred day moving average of $50.46. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 2.62 and a beta of 1.29. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMC. BMO Capital Markets reduced their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Morgan Stanley reduced their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, UBS Group reduced their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.33.

Insiders Place Their Bets

In related news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

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.

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