Commercial Metals (NYSE:CMC) CEO Sells $631,019.72 in Stock

Commercial Metals (NYSE:CMCGet Rating) CEO Barbara Smith sold 13,582 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $46.46, for a total transaction of $631,019.72. Following the sale, the chief executive officer now owns 520,203 shares of the company’s stock, valued at approximately $24,168,631.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Barbara Smith also recently made the following trade(s):

  • On Tuesday, April 12th, Barbara Smith sold 4,101 shares of Commercial Metals stock. The stock was sold at an average price of $43.45, for a total transaction of $178,188.45.
  • On Friday, March 25th, Barbara Smith sold 20,899 shares of Commercial Metals stock. The stock was sold at an average price of $43.49, for a total transaction of $908,897.51.

Shares of NYSE:CMC traded down $2.74 on Thursday, reaching $43.40. 1,735,193 shares of the company were exchanged, compared to its average volume of 1,214,887. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 5.92 and a beta of 1.20. Commercial Metals has a 1-year low of $27.69 and a 1-year high of $46.68. The company has a 50-day moving average of $40.28 and a 200-day moving average of $36.12. The company has a current ratio of 4.23, a quick ratio of 2.85 and a debt-to-equity ratio of 0.50.

Commercial Metals (NYSE:CMCGet Rating) last issued its quarterly earnings data on Thursday, March 17th. The basic materials company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.45. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Commercial Metals had a net margin of 11.43% and a return on equity of 27.25%. The firm’s revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. As a group, analysts forecast that Commercial Metals will post 6.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 13th. Investors of record on Wednesday, March 30th were paid a $0.14 dividend. The ex-dividend date was Tuesday, March 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.29%. Commercial Metals’s payout ratio is 7.64%.

Several brokerages have recently weighed in on CMC. KeyCorp boosted their price objective on shares of Commercial Metals from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets upped their price target on shares of Commercial Metals from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, March 18th. JPMorgan Chase & Co. boosted their price objective on shares of Commercial Metals from $47.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 24th. Exane BNP Paribas raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 21st. Finally, BNP Paribas raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 21st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $41.70.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its holdings in Commercial Metals by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 31,797 shares of the basic materials company’s stock valued at $1,154,000 after purchasing an additional 277 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Commercial Metals by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 30,538 shares of the basic materials company’s stock valued at $1,108,000 after purchasing an additional 300 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Commercial Metals by 0.6% in the 4th quarter. Bridgewater Associates LP now owns 57,948 shares of the basic materials company’s stock valued at $2,103,000 after purchasing an additional 319 shares in the last quarter. Oak Family Advisors LLC lifted its holdings in Commercial Metals by 2.8% in the 4th quarter. Oak Family Advisors LLC now owns 11,830 shares of the basic materials company’s stock valued at $429,000 after purchasing an additional 325 shares in the last quarter. Finally, Exane Derivatives lifted its holdings in Commercial Metals by 4.5% in the 4th quarter. Exane Derivatives now owns 7,761 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 334 shares in the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

About Commercial Metals (Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.

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Insider Buying and Selling by Quarter for Commercial Metals (NYSE:CMC)

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