Hodges Capital Management Inc. Buys 262 Shares of Commercial Metals (NYSE:CMC)

Hodges Capital Management Inc. raised its stake in Commercial Metals (NYSE:CMC) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,115 shares of the basic materials company’s stock after purchasing an additional 262 shares during the period. Commercial Metals makes up approximately 0.9% of Hodges Capital Management Inc.’s holdings, making the stock its 29th biggest position. Hodges Capital Management Inc. owned 0.22% of Commercial Metals worth $13,919,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Archer Investment Corp acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $77,000. Versor Investments LP raised its stake in shares of Commercial Metals by 52.5% in the 2nd quarter. Versor Investments LP now owns 9,254 shares of the basic materials company’s stock valued at $509,000 after buying an additional 3,185 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Commercial Metals by 2,409.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,273 shares of the basic materials company’s stock valued at $336,000 after buying an additional 6,023 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Commercial Metals by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 17,604 shares of the basic materials company’s stock worth $968,000 after purchasing an additional 440 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Commercial Metals during the 2nd quarter worth about $831,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMC has been the subject of a number of recent analyst reports. Bank of America dropped their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday. They issued a “buy” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.40.

Commercial Metals Trading Up 1.0 %

Shares of NYSE CMC traded up $0.50 during mid-day trading on Wednesday, hitting $51.44. The company’s stock had a trading volume of 15,772 shares, compared to its average volume of 858,948. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 10.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. Commercial Metals has a one year low of $39.85 and a one year high of $61.26. The company’s fifty day simple moving average is $54.84 and its 200-day simple moving average is $54.99.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. On average, sell-side analysts anticipate that Commercial Metals will post 4.53 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals’s dividend payout ratio (DPR) is presently 15.00%.

About Commercial Metals

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.