Barbara Smith Sells 60,166 Shares of Commercial Metals (NYSE:CMC) Stock

Commercial Metals (NYSE:CMCGet Free Report) Chairman Barbara Smith sold 60,166 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48. Following the completion of the sale, the chairman now owns 96,019 shares of the company’s stock, valued at approximately $4,923,854.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Thursday, January 18th, Barbara Smith sold 57,194 shares of Commercial Metals stock. The shares were sold at an average price of $49.94, for a total value of $2,856,268.36.
  • On Tuesday, January 16th, Barbara Smith sold 142,806 shares of Commercial Metals stock. The stock was sold at an average price of $49.89, for a total value of $7,124,591.34.

Commercial Metals Stock Up 1.4 %

Shares of CMC opened at $50.95 on Wednesday. The business’s 50 day moving average is $49.30 and its 200 day moving average is $49.65. The company has a market capitalization of $5.93 billion, a PE ratio of 7.79 and a beta of 1.32. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $58.06. The company has a current ratio of 4.12, a quick ratio of 2.81 and a debt-to-equity ratio of 0.26.

Commercial Metals (NYSE:CMCGet Free Report) last released its quarterly earnings results on Monday, January 8th. The basic materials company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Commercial Metals had a return on equity of 19.89% and a net margin of 9.03%. Research analysts expect that Commercial Metals will post 4.77 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, January 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. Commercial Metals’s dividend payout ratio (DPR) is 9.79%.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of research reports. Citigroup decreased their price objective on Commercial Metals from $56.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, October 16th. UBS Group began coverage on Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on Commercial Metals from $50.00 to $52.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus target price of $56.25.

Read Our Latest Report on Commercial Metals

Institutional Trading of Commercial Metals

Hedge funds have recently modified their holdings of the company. Natixis Advisors L.P. increased its position in shares of Commercial Metals by 12.5% during the 1st quarter. Natixis Advisors L.P. now owns 12,638 shares of the basic materials company’s stock valued at $526,000 after purchasing an additional 1,402 shares during the last quarter. Bank of Montreal Can increased its position in shares of Commercial Metals by 14.9% during the 1st quarter. Bank of Montreal Can now owns 13,282 shares of the basic materials company’s stock valued at $547,000 after purchasing an additional 1,727 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Commercial Metals by 11.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,522 shares of the basic materials company’s stock valued at $1,853,000 after purchasing an additional 4,540 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Commercial Metals during the 1st quarter valued at approximately $2,188,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Commercial Metals by 9.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 69,545 shares of the basic materials company’s stock valued at $2,980,000 after purchasing an additional 6,259 shares during the last quarter. 82.64% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Company Profile

(Get Free Report)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. 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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