Insider Selling: Commercial Metals Company VP Sells 1,100 Shares of Stock (CMC)
Commercial Metals Company (NYSE:CMC) VP Adam B. Batchelor sold 1,100 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $17.31, for a total transaction of $19,041.00. Following the sale, the vice president now directly owns 9,367 shares of the company’s stock, valued at approximately $162,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Commercial Metals Company in a research note on Monday, June 30th. They now have a $23.00 price target on the stock, down previously from $25.00. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $20.12.
Shares of Commercial Metals Company (NYSE:CMC) traded up 2.06% on Monday, hitting $17.38. 628,308 shares of the company’s stock traded hands. Commercial Metals Company has a 1-year low of $14.67 and a 1-year high of $21.20. The stock’s 50-day moving average is $17.48 and its 200-day moving average is $18.51. The company has a market cap of $2.048 billion and a price-to-earnings ratio of 23.65.
Commercial Metals Company (NYSE:CMC) last issued its quarterly earnings data on Friday, June 27th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.01. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Commercial Metals Company will post $0.83 earnings per share for the current fiscal year.
Commercial Metals Company together with its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network, including steel mini mills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mini mill, metal recycling facilities and marketing and distribution in the United States and in international markets.
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