Janus Henderson Group PLC Has $31.04 Million Stake in Commercial Metals Company $CMC

Key Points

• Janus Henderson increased its Commercial Metals stake by 3% in the first quarter, owning 505,209 shares valued at approximately $31.04 million, or 0.46% of the company.
• Institutional investors and hedge funds own 86.9% of CMC’s outstanding shares, with State Street, Boston Partners and Geode Capital among the largest holders.
• Commercial Metals exceeded quarterly earnings and revenue expectations, reporting $1.73 in EPS and $2.48 billion in revenue; analysts maintain a “Moderate Buy” consensus with an average price target of $79.45.

Janus Henderson Group PLC grew its position in Commercial Metals Company (NYSE:CMC - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 505,209 shares of the basic materials company's stock after purchasing an additional 14,733 shares during the quarter. Janus Henderson Group PLC owned approximately 0.46% of Commercial Metals worth $31,037,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Commercial Metals by 1.5% in the fourth quarter. State Street Corp now owns 6,361,477 shares of the basic materials company's stock valued at $440,341,000 after buying an additional 91,104 shares during the period. Boston Partners boosted its position in Commercial Metals by 1.9% during the third quarter. Boston Partners now owns 3,641,930 shares of the basic materials company's stock valued at $208,629,000 after acquiring an additional 67,139 shares during the last quarter. Geode Capital Management LLC grew its holdings in Commercial Metals by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company's stock worth $202,626,000 after acquiring an additional 86,749 shares during the period. Invesco Ltd. grew its holdings in Commercial Metals by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company's stock worth $95,144,000 after acquiring an additional 76,365 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Commercial Metals by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,592,131 shares of the basic materials company's stock worth $110,207,000 after acquiring an additional 32,941 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Price Performance

CMC stock opened at $68.81 on Monday. The stock has a market capitalization of $7.61 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.40 and a beta of 1.52. The company's 50-day moving average is $69.95 and its 200-day moving average is $70.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. Commercial Metals Company has a 1 year low of $49.66 and a 1 year high of $84.87.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm's revenue was up 22.9% compared to the same quarter last year. Equities research analysts expect that Commercial Metals Company will post 6.64 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, July 6th. Commercial Metals's dividend payout ratio (DPR) is 15.07%.

Insider Buying and Selling at Commercial Metals

In other news, CEO Peter R. Matt bought 8,230 shares of the stock in a transaction dated Friday, July 10th. The shares were bought at an average cost of $61.30 per share, with a total value of $504,499.00. Following the completion of the transaction, the chief executive officer directly owned 181,522 shares of the company's stock, valued at $11,127,298.60. This trade represents a 4.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

CMC has been the topic of several research analyst reports. Jefferies Financial Group upgraded Commercial Metals from a "buy" rating to a "buy" rating in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a "buy" rating in a report on Friday, May 22nd. Zacks Research raised Commercial Metals from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. BNP Paribas Exane upgraded Commercial Metals from a "neutral" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Commercial Metals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $79.45.

About Commercial Metals

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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