Hodges Capital Management Inc. Has $15.83 Million Holdings in Commercial Metals Company $CMC

Hodges Capital Management Inc. grew its stake in Commercial Metals Company (NYSE:CMC) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,746 shares of the basic materials company’s stock after acquiring an additional 24,074 shares during the period. Commercial Metals accounts for about 1.3% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Hodges Capital Management Inc.’s holdings in Commercial Metals were worth $15,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of Commercial Metals by 1.4% in the 1st quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock valued at $4,186,000 after buying an additional 1,219 shares during the period. Amundi lifted its stake in shares of Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 291 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Commercial Metals by 614.9% during the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 10,121 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Commercial Metals by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after acquiring an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC stock opened at $61.58 on Monday. The stock has a market cap of $6.81 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.35 and a beta of 1.54. The stock has a 50-day moving average of $71.59 and a 200-day moving average of $71.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.33 and a quick ratio of 1.54. Commercial Metals Company has a one year low of $49.66 and a one year high of $84.87.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts expect that Commercial Metals Company will post 6.54 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, July 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 15.07%.

Analyst Ratings Changes

Several brokerages have weighed in on CMC. Barclays started coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price objective for the company. Weiss Ratings upgraded shares of Commercial Metals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Zacks Research downgraded shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Friday, June 12th. Jefferies Financial Group upgraded shares of Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and an average target price of $80.10.

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.