Tudor Investment Corp ET AL Raises Holdings in Commercial Metals Company $CMC

Key Points

• Tudor Investment Corp increased its stake in Commercial Metals by 45.5% to 217,082 shares (about $12.43M), and other institutions like UBS, Millennium and Vaughan Nelson also added large positions, leaving institutional ownership at roughly 86.9%.
• Commercial Metals missed EPS expectations in the quarter ($1.16 vs. $1.28) but posted revenue of $2.13B, up 21.5% year‑over‑year, and analysts on average expect about 3.09 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.20 ($0.80 annualized, ~1.3% yield), while insiders showed mixed activity—an executive sold 25,050 shares and a director purchased 2,000 shares.

Tudor Investment Corp ET AL lifted its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 45.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 217,082 shares of the basic materials company's stock after acquiring an additional 67,864 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.20% of Commercial Metals worth $12,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. bought a new position in Commercial Metals during the third quarter worth about $54,394,000. Encompass Capital Advisors LLC bought a new stake in shares of Commercial Metals in the second quarter valued at approximately $34,225,000. Merewether Investment Management LP bought a new stake in shares of Commercial Metals in the third quarter valued at approximately $26,847,000. UBS Group AG lifted its stake in shares of Commercial Metals by 41.8% during the 3rd quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company's stock valued at $87,130,000 after buying an additional 448,083 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Commercial Metals by 44.2% in the 3rd quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company's stock worth $58,054,000 after buying an additional 310,431 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMC. Zacks Research cut shares of Commercial Metals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Wall Street Zen cut Commercial Metals from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Citigroup boosted their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Wells Fargo & Company dropped their price objective on Commercial Metals from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, March 27th. Finally, The Goldman Sachs Group began coverage on Commercial Metals in a research note on Wednesday, April 1st. They issued a "neutral" rating and a $74.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Commercial Metals has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Commercial Metals Price Performance

Commercial Metals stock opened at $61.71 on Monday. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.35 and a beta of 1.47. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $71.11 and a 200 day simple moving average of $66.73. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $84.87.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.10 billion. During the same period in the previous year, the business earned $0.26 EPS. The business's revenue was up 21.5% on a year-over-year basis. On average, research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 6th. This is a boost from Commercial Metals's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.3%. Commercial Metals's dividend payout ratio (DPR) is presently 16.04%.

Insider Activity at Commercial Metals

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the completion of the transaction, the insider owned 52,880 shares of the company's stock, valued at $4,228,813.60. The trade was a 32.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis V. Arriola purchased 2,000 shares of the firm's stock in a transaction dated Tuesday, January 20th. The stock was bought at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the acquisition, the director directly owned 9,238 shares in the company, valued at approximately $689,986.22. The trade was a 27.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.62% of the company's stock.

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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