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Top investor Hodges: Bet on JC Penney turnaround

Employees assist customers at the checkout counter of a J.C. Penney store.
Michael Nagle | Bloomberg | Getty Images
Employees assist customers at the checkout counter of a J.C. Penney store.

Craig Hodges, CEO of Hodges Capital Management, took profits in his best-performing stock in the "Platinum Portfolio" this year, replacing it with shares of J.C. Penney.

The fund manager sold out of his position in Eagle Materials, a producer of building materials for residential and commercial construction, locking in a 24 percent gain in the stock since he bought it at the beginning of 2016.

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