Commercial Metals (CMC) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its stake in Commercial Metals (NYSE:CMC) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,051,086 shares of the basic materials company’s stock after selling 6,400 shares during the period. Commercial Metals accounts for 1.6% of Hodges Capital Management Inc.’s portfolio, making the stock its 14th biggest position. Hodges Capital Management Inc.’s holdings in Commercial Metals were worth $22,409,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CMC. Janus Henderson Group PLC acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $29,018,000. Deprince Race & Zollo Inc. raised its position in Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock valued at $57,435,000 after purchasing an additional 1,117,876 shares during the last quarter. Russell Investments Group Ltd. raised its position in Commercial Metals by 4,203.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after purchasing an additional 575,835 shares during the last quarter. 3G Capital Partners LP purchased a new stake in Commercial Metals in the 3rd quarter valued at $9,515,000. Finally, Point72 Asset Management L.P. raised its position in Commercial Metals by 375.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 460,000 shares of the basic materials company’s stock valued at $8,754,000 after purchasing an additional 363,300 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Commercial Metals (NYSE:CMC) opened at $23.53 on Thursday. The company has a market cap of $2,726.85, a price-to-earnings ratio of 24.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.90.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.14. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. Commercial Metals’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. sell-side analysts expect that Commercial Metals will post 1.42 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a yield of 2.04%. Commercial Metals’s payout ratio is currently 72.73%.

Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Finally, Jefferies Group reduced their price target on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Commercial Metals has a consensus rating of “Hold” and an average target price of $21.88.

In other Commercial Metals news, EVP Tracy L. Porter sold 6,935 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total transaction of $174,345.90. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at approximately $251.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy L. Porter sold 13,601 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total transaction of $340,569.04. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $250.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

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Commercial Metals Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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