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

Hodges Capital Management Inc. trimmed its stake in shares of Commercial Metals Company (NYSE:CMC) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 233,672 shares of the basic materials company’s stock after selling 20,412 shares during the quarter. Commercial Metals comprises 1.4% of Hodges Capital Management Inc.’s portfolio, making the stock its 20th largest position. Hodges Capital Management Inc.’s holdings in Commercial Metals were worth $16,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC grew its holdings in Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after buying an additional 324 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after buying an additional 301 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Commercial Metals in the 4th quarter worth approximately $54,000. Los Angeles Capital Management LLC bought a new position in Commercial Metals in the 4th quarter worth approximately $59,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Commercial Metals in the 3rd quarter worth approximately $73,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $73.82 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. Commercial Metals Company has a 1 year low of $47.06 and a 1 year high of $84.87. The business has a fifty day simple moving average of $69.58 and a 200 day simple moving average of $70.45. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 0.45 and a beta of 1.50.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. Commercial Metals’s revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts predict that Commercial Metals Company will post 6.45 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, April 6th. Commercial Metals’s dividend payout ratio is 16.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. KeyCorp assumed coverage on Commercial Metals in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. Barclays initiated coverage on Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price objective for the company. Morgan Stanley increased their price target on Commercial Metals from $75.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.10.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.