Commercial Metals (NYSE:CMC) EVP Tracy L. Porter sold 6,935 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total value of $174,345.90. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.
Commercial Metals (NYSE CMC) traded up $0.25 during trading on Friday, hitting $25.09. The stock had a trading volume of 1,773,300 shares, compared to its average volume of 2,912,483. Commercial Metals has a 52 week low of $17.05 and a 52 week high of $25.90. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $2,930.00, a P/E 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 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.13). Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. sell-side analysts predict that Commercial Metals will post 1.42 EPS for the current 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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, January 12th. Commercial Metals’s payout ratio is 88.89%.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Commercial Metals by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,837,096 shares of the basic materials company’s stock valued at $249,424,000 after purchasing an additional 264,915 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Commercial Metals by 13.2% in the second quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock valued at $87,673,000 after purchasing an additional 526,185 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Commercial Metals by 0.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock valued at $85,090,000 after purchasing an additional 35,385 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Commercial Metals by 58.8% in the third quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock valued at $57,435,000 after purchasing an additional 1,117,876 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Commercial Metals by 7.4% in the second quarter. Northern Trust Corp now owns 2,858,394 shares of the basic materials company’s stock valued at $55,539,000 after purchasing an additional 196,113 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors.
CMC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $24.00 in a research report on Thursday, December 7th. Finally, Jefferies Group lowered their price target on Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Four investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.88.
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Commercial Metals Company Profile
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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