Caxton Associates LLP Grows Stake in Commercial Metals Company $CMC

Caxton Associates LLP lifted its holdings in shares of Commercial Metals Company (NYSE:CMC) by 402.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 41,024 shares of the basic materials company’s stock after buying an additional 32,860 shares during the period. Caxton Associates LLP’s holdings in Commercial Metals were worth $2,520,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Commercial Metals by 1.5% in the 4th 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 in the last quarter. Boston Partners raised its stake in Commercial Metals by 1.9% during the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock worth $208,629,000 after acquiring an additional 67,139 shares in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Invesco Ltd. lifted its position in Commercial Metals by 4.8% in the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after acquiring an additional 76,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Commercial Metals by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,592,131 shares of the basic materials company’s stock valued at $110,207,000 after acquiring an additional 32,941 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.3%

CMC opened at $68.91 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.39 and a beta of 1.54. Commercial Metals Company has a one year low of $49.66 and a one year high of $84.87. The business’s fifty day moving average is $70.14 and its two-hundred day moving average is $70.49.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. Analysts anticipate that Commercial Metals Company will post 6.63 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is 15.07%.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Peter R. Matt bought 8,230 shares of the business’s stock in a transaction on Friday, July 10th. The stock was bought at an average price of $61.30 per share, for a total transaction of $504,499.00. Following the completion of the transaction, the chief executive officer owned 181,522 shares in the company, valued at approximately $11,127,298.60. The trade was a 4.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Wells Fargo & Company boosted their target price on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Barclays started coverage on Commercial Metals in a research note on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price target on the stock. Citigroup cut their price target on Commercial Metals from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.45.

Commercial Metals Profile

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.