Northern Trust Corp Has $78.42 Million Stock Position in Commercial Metals Company $CMC

Key Points

• Northern Trust Corp reduced its stake in Commercial Metals Company by 2.6%, owning approximately 1.51% of the company valued at $78.42 million.
• Commercial Metals reported a quarterly EPS of $0.74, missing estimates, with a revenue of $2.02 billion, down 2.8% from the previous year.
• The company has declared a quarterly dividend of $0.18 per share, representing a dividend yield of 1.2%, despite a high payout ratio of 232.26%.

Northern Trust Corp trimmed its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,704,295 shares of the basic materials company's stock after selling 45,582 shares during the period. Northern Trust Corp owned approximately 1.51% of Commercial Metals worth $78,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI raised its position in Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after buying an additional 244 shares during the period. Park Square Financial Group LLC purchased a new position in Commercial Metals in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the fourth quarter valued at about $34,000. UMB Bank n.a. grew its stake in Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 268 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Commercial Metals in the first quarter valued at about $47,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

CMC opened at $58.9520 on Monday. The company has a market cap of $6.60 billion, a PE ratio of 190.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.28. The stock has a 50-day moving average of $52.44 and a 200-day moving average of $48.66. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.11). The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The business's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. As a group, equities research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMC. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. BMO Capital Markets restated a "market perform" rating and issued a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their target price on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley set a $57.50 target price on Commercial Metals in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company upgraded Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Commercial Metals has an average rating of "Moderate Buy" and an average price target of $58.81.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.

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