Commercial Metals Company $CMC Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. lifted its stake in Commercial Metals Company (NYSE:CMC) by 3.4% in the second quarter, HoldingsChannel reports. The firm owned 251,468 shares of the basic materials company’s stock after acquiring an additional 8,267 shares during the quarter. Commercial Metals makes up about 1.2% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Hodges Capital Management Inc.’s holdings in Commercial Metals were worth $12,299,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CMC. National Bank of Canada FI raised its position in Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC raised its holdings in Commercial Metals by 51.4% in the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 302 shares in the last quarter. UMB Bank n.a. raised its holdings in Commercial Metals by 77.8% in the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 610 shares in the last quarter. Harbour Investments Inc. lifted its stake in Commercial Metals by 17.5% in the second quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock worth $90,000 after acquiring an additional 273 shares during the last quarter. Finally, Amundi grew its holdings in Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, Director John R. Mcpherson bought 1,722 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $58.09 per share, with a total value of $100,030.98. Following the completion of the acquisition, the director owned 6,722 shares in the company, valued at approximately $390,480.98. This trade represents a 34.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Commercial Metals Trading Up 2.5%

NYSE CMC opened at $58.85 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The firm has a market cap of $6.53 billion, a PE ratio of 77.43, a P/E/G ratio of 1.94 and a beta of 1.34. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The firm’s fifty day moving average is $58.62 and its two-hundred day moving average is $53.43.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

Analyst Ratings Changes

CMC has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $65.00 in a report on Friday, October 17th. Jefferies Financial Group set a $70.00 target price on Commercial Metals and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.20.

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.