Jennifer Durbin Sells 25,050 Shares of Commercial Metals (NYSE:CMC) Stock

Commercial Metals Company (NYSE:CMC) insider Jennifer Durbin sold 25,050 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Commercial Metals Price Performance

NYSE CMC traded up $0.77 on Wednesday, reaching $82.64. The company had a trading volume of 1,423,011 shares, compared to its average volume of 1,397,673. The stock has a market capitalization of $9.17 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.43 and a beta of 1.49. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $84.12. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average price is $71.59 and its 200 day moving average price is $62.42.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Commercial Metals’s payout ratio is presently 18.56%.

Wall Street Analyst Weigh In

CMC has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating and raised their target price for the company from $64.00 to $78.00 in a report on Friday, December 5th. Jefferies Financial Group set a $85.00 price objective on shares of Commercial Metals and gave the stock a “buy” rating in a research note on Thursday, January 8th. Citigroup boosted their target price on shares of Commercial Metals from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, January 12th. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. Finally, Morgan Stanley lifted their price target on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Institutional Trading of Commercial Metals

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its position in Commercial Metals by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 149 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Commercial Metals by 2.3% in the third quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company’s stock valued at $451,000 after acquiring an additional 180 shares in the last quarter. Spire Wealth Management lifted its stake in Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 183 shares during the period. Quadrant Capital Group LLC grew its holdings in Commercial Metals by 2.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after acquiring an additional 188 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.