Janus Henderson Group PLC Sells 93,397 Shares of Commercial Metals (NYSE:CMC)

Janus Henderson Group PLC reduced its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 717,880 shares of the basic materials company's stock after selling 93,397 shares during the period. Janus Henderson Group PLC owned approximately 0.63% of Commercial Metals worth $35,608,000 as of its most recent SEC filing.

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

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Commercial Metals Trading Up 0.3%

Shares of NYSE:CMC traded up $0.12 during midday trading on Tuesday, hitting $47.88. 74,110 shares of the stock traded hands, compared to its average volume of 956,392. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $44.92 and its two-hundred day moving average is $50.27. The stock has a market capitalization of $5.41 billion, a PE ratio of 43.10, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a one year low of $37.92 and a one year 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 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Wall Street Analyst Weigh In

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

About Commercial Metals

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.