Hodges Capital Management Inc. Buys 56,666 Shares of Commercial Metals (NYSE:CMC)

Hodges Capital Management Inc. boosted its stake in Commercial Metals (NYSE:CMC) by 24.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 290,942 shares of the basic materials company’s stock after buying an additional 56,666 shares during the period. Hodges Capital Management Inc.’s holdings in Commercial Metals were worth $14,431,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the fourth quarter valued at about $34,000. nVerses Capital LLC bought a new stake in Commercial Metals in the 3rd quarter valued at about $66,000. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 944 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $134,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Down 1.0 %

Shares of NYSE CMC opened at $48.49 on Monday. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 2.49 and a beta of 1.18. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The stock has a 50-day moving average price of $53.49 and a two-hundred day moving average price of $54.39.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 EPS. As a group, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley initiated coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective on the stock. Finally, Jefferies Financial Group dropped their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.83.

Commercial Metals Company Profile

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.