Caxton Associates LLP Increases Holdings in Commercial Metals Company $CMC

Caxton Associates LLP boosted its stake in shares of Commercial Metals Company (NYSE:CMC) by 402.5% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Inceptionr LLC purchased a new position in Commercial Metals during the first quarter worth about $362,000. Sei Investments Co. grew its stake in shares of Commercial Metals by 64.2% in the 1st quarter. Sei Investments Co. now owns 171,759 shares of the basic materials company’s stock valued at $10,551,000 after buying an additional 67,142 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of Commercial Metals during the 1st quarter worth approximately $1,248,000. First Trust Advisors LP increased its holdings in shares of Commercial Metals by 4.8% during the 1st quarter. First Trust Advisors LP now owns 24,460 shares of the basic materials company’s stock worth $1,503,000 after buying an additional 1,114 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Commercial Metals by 187.8% during the 1st quarter. Meeder Asset Management Inc. now owns 11,770 shares of the basic materials company’s stock valued at $723,000 after buying an additional 7,681 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 1.3%

NYSE:CMC opened at $68.91 on Friday. Commercial Metals Company has a 12-month low of $49.66 and a 12-month high of $84.87. The firm has a market cap of $7.62 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.39 and a beta of 1.54. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average price of $70.14 and a 200 day moving average price of $70.49.

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

Commercial Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMC shares. Weiss Ratings raised Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price objective on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price on the stock. BNP Paribas Exane raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Wednesday, July 8th. Finally, Citigroup dropped their price target on shares of Commercial Metals from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. One 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.45.

Insiders Place Their Bets

In other news, CEO Peter R. Matt purchased 8,230 shares of the firm’s stock in a transaction that occurred 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 purchase, the chief executive officer directly owned 181,522 shares of the company’s stock, valued at $11,127,298.60. The trade was a 4.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.62% of the stock is currently owned by company insiders.

Commercial Metals Company 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.