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.
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.
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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