Hodges Capital Management Inc. lowered its holdings in Commercial Metals Company (NYSE:CMC – Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,672 shares of the basic materials company’s stock after selling 20,412 shares during the period. Commercial Metals accounts for 1.4% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position. Hodges Capital Management Inc. owned about 0.21% of Commercial Metals worth $16,175,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC grew its position in shares of Commercial Metals by 169.6% in the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 324 shares during the period. Global Retirement Partners LLC grew its position in shares of Commercial Metals by 110.7% in the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 301 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $54,000. Los Angeles Capital Management LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $59,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Commercial Metals in the third quarter valued at $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.
Analysts Set New Price Targets
CMC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a research report on Friday, June 5th. UBS Group raised Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $89.00 in a research report on Wednesday, May 13th. KeyCorp initiated coverage on Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Finally, Barclays initiated coverage on Commercial Metals in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.10.
Commercial Metals Trading Down 2.6%
Shares of CMC opened at $73.82 on Thursday. The stock’s 50-day moving average is $69.58 and its two-hundred day moving average is $70.45. The stock has a market cap of $8.19 billion, a PE ratio of 16.44, a P/E/G ratio of 0.45 and a beta of 1.50. Commercial Metals Company has a 12 month low of $47.06 and a 12 month high of $84.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55.
Commercial Metals (NYSE:CMC – Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. Equities analysts forecast that Commercial Metals Company will post 6.45 earnings per share for the current fiscal year.
Commercial Metals Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a dividend of $0.20 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, April 6th. Commercial Metals’s payout ratio is presently 16.04%.
About Commercial Metals
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.
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