Northern Trust Corp Has $86.79 Million Stock Position in Commercial Metals (NYSE:CMC)

Northern Trust Corp increased its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,749,877 shares of the basic materials company's stock after acquiring an additional 162,201 shares during the period. Northern Trust Corp owned 1.54% of Commercial Metals worth $86,794,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Barclays PLC grew its holdings in Commercial Metals by 67.5% during the third quarter. Barclays PLC now owns 210,769 shares of the basic materials company's stock valued at $11,584,000 after purchasing an additional 84,905 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Commercial Metals by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,026,351 shares of the basic materials company's stock worth $55,433,000 after buying an additional 3,396 shares during the period. Principal Financial Group Inc. grew its stake in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock valued at $94,208,000 after buying an additional 17,931 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Commercial Metals by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company's stock worth $59,420,000 after acquiring an additional 66,092 shares during the period. Finally, GAMMA Investing LLC lifted its position in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock worth $130,000 after acquiring an additional 944 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of CMC traded down $0.04 on Friday, reaching $46.11. 378,094 shares of the stock traded hands, compared to its average volume of 956,250. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The stock's 50-day moving average price is $44.60 and its 200-day moving average price is $50.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The company's quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMC. Morgan Stanley lowered their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.33.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the transaction, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.46% of the company's stock.

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.