Tudor Investment Corp ET AL Purchases 67,864 Shares of Commercial Metals Company $CMC

Tudor Investment Corp ET AL raised its position in Commercial Metals Company (NYSE:CMC) by 45.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 217,082 shares of the basic materials company’s stock after purchasing an additional 67,864 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Commercial Metals were worth $12,434,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMC. State Street Corp increased its holdings in shares of Commercial Metals by 2.6% during the third quarter. State Street Corp now owns 6,270,373 shares of the basic materials company’s stock worth $359,167,000 after buying an additional 161,195 shares in the last quarter. Boston Partners boosted its holdings in shares of Commercial Metals by 1.9% in 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. Franklin Resources Inc. grew its position in Commercial Metals by 10.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock worth $156,215,000 after acquiring an additional 290,256 shares during the last quarter. American Century Companies Inc. grew its position in Commercial Metals by 6.6% during the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after acquiring an additional 112,267 shares during the last quarter. Finally, Invesco Ltd. increased 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 valued at $95,144,000 after purchasing an additional 76,365 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Commercial Metals

In related news, insider Jennifer J. Durbin sold 25,050 shares of the company’s stock in a transaction 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 sale, the insider owned 52,880 shares in the company, valued at $4,228,813.60. This represents a 32.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis V. Arriola acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the purchase, the director directly owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is owned by insiders.

Commercial Metals Stock Performance

Shares of CMC stock opened at $60.15 on Friday. The stock has a market cap of $6.67 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.33 and a beta of 1.47. The stock has a 50-day moving average of $73.91 and a 200-day moving average of $66.46. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70. Commercial Metals Company has a one year low of $37.92 and a one year high of $84.87.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.29. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. Commercial Metals’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, sell-side analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is currently 18.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMC shares. Morgan Stanley lifted their price objective on Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Zacks Research cut Commercial Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company increased their price objective on shares of Commercial Metals from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $64.00 to $78.00 in a research note on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.80.

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.