Commercial Metals (NYSE:CMC) Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. grew its holdings in Commercial Metals (NYSE:CMC - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,942 shares of the basic materials company's stock after acquiring an additional 56,666 shares during the period. Hodges Capital Management Inc. owned about 0.26% of Commercial Metals worth $14,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its position in shares of Commercial Metals by 0.4% during the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock worth $320,439,000 after acquiring an additional 24,665 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock worth $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Commercial Metals by 1.9% during the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company's stock worth $119,646,000 after purchasing an additional 41,206 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock valued at $94,208,000 after purchasing an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock worth $80,369,000 after buying an additional 18,262 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group raised shares of Commercial Metals from a "sell" rating to a "neutral" rating and cut their target price for the company from $56.00 to $54.00 in a report on Friday, January 10th. The Goldman Sachs Group began coverage on Commercial Metals in a research note on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective for the company. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Jefferies Financial Group decreased their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets dropped their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Commercial Metals has an average rating of "Hold" and a consensus price target of $62.33.

Commercial Metals Price Performance

CMC traded up $1.43 on Thursday, hitting $50.10. 1,662,750 shares of the company were exchanged, compared to its average volume of 1,130,102. The business's fifty day moving average is $52.43 and its 200 day moving average is $54.18. The firm has a market capitalization of $5.69 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a fifty-two week low of $45.50 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts' consensus estimates of $0.78. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. As a group, sell-side analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Commercial Metals's dividend payout ratio is presently 64.86%.

Commercial Metals Profile

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.