Commercial Metals (CMC) EVP Sells $174,345.90 in Stock

Commercial Metals (NYSE:CMC) EVP Tracy L. Porter sold 6,935 shares of the business’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 sale, the executive vice president now directly owns 10 shares in the company, valued at approximately $251.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Commercial Metals (CMC) traded up $0.25 on Thursday, hitting $25.09. 1,773,326 shares of the stock traded hands, compared to its average volume of 2,912,483. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $25.90. The company has a market cap of $2,900.00, a price-to-earnings ratio of 46.46 and a beta of 1.26.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.13). Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. sell-side analysts predict that Commercial Metals will post 1.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, January 12th. Commercial Metals’s payout ratio is 88.89%.

Several brokerages have issued reports on CMC. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a report on Tuesday, October 17th. Jefferies Group raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Four investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.88.

Institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Commercial Metals in the 3rd quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Commercial Metals by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 522 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Commercial Metals by 56.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 2,492 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Commercial Metals in the 2nd quarter worth about $270,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Commercial Metals in the 3rd quarter worth about $282,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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About Commercial Metals

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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