NorthRock Partners LLC Invests $247,000 in Commercial Metals Company (NYSE:CMC)

Key Points

• NorthRock Partners LLC invested $247,000 in Commercial Metals Company (NYSE:CMC) by acquiring 5,341 shares during the first quarter, according to a recent SEC filing.
• Several institutions have increased their positions in CMC, with Norges Bank investing approximately $69.26 million and Pacer Advisors Inc. lifting its stake by 4,372.6% to own nearly 759,484 shares.
• Commercial Metals reported earnings of $0.74 per share for the last quarter, missing expectations by $0.11, with revenues of $2.02 billion, down 2.8% year-over-year.

NorthRock Partners LLC bought a new position in shares of Commercial Metals Company (NYSE:CMC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,341 shares of the basic materials company's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Isthmus Partners LLC grew its holdings in shares of Commercial Metals by 3.2% during the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock valued at $340,000 after purchasing an additional 226 shares during the last quarter. Choreo LLC lifted its position in Commercial Metals by 2.1% in the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock valued at $509,000 after purchasing an additional 228 shares during the last quarter. Mariner LLC lifted its position in Commercial Metals by 0.9% in the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock valued at $1,227,000 after purchasing an additional 232 shares during the last quarter. UMB Bank n.a. lifted its position 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 during the last quarter. Finally, Fifth Third Bancorp lifted its position in Commercial Metals by 21.2% in the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Up 0.3%

Shares of NYSE:CMC traded up $0.14 during trading on Wednesday, hitting $52.10. The stock had a trading volume of 309,844 shares, compared to its average volume of 1,108,684. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a market capitalization of $5.83 billion, a PE ratio of 168.02, a PEG ratio of 2.32 and a beta of 1.28. The firm's fifty day moving average is $50.61 and its 200 day moving average is $48.10. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its 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). Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $1.02 EPS. The firm's revenue was down 2.8% on a year-over-year basis. Analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. Commercial Metals's dividend payout ratio is currently 232.26%.

Analyst Ratings Changes

CMC has been the subject of several recent research reports. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price objective on Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $57.50.

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.