Tracy L. Porter Sells 13,601 Shares of Commercial Metals (CMC) Stock

Commercial Metals (NYSE:CMC) EVP Tracy L. Porter sold 13,601 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the sale, the executive vice president now owns 10 shares of the company’s stock, valued at approximately $250.40. The transaction was disclosed in a filing with the SEC, which is available through this link.

Commercial Metals (NYSE:CMC) traded up $0.25 during midday trading on Friday, hitting $25.09. 1,773,300 shares of the stock traded hands, compared to its average volume of 2,912,483. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. The company has a market cap of $2,930.00, a price-to-earnings ratio of 46.46 and a beta of 1.26.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.07 earnings per share for the quarter, missing the Zacks’ 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%. equities analysts forecast that Commercial Metals will post 1.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, January 12th. Commercial Metals’s dividend payout ratio (DPR) is currently 88.89%.

CMC has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Bank of America upgraded 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 research note on Thursday, December 7th. Finally, Jefferies Group reduced their target price on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Four research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.88.

Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new position in shares of Commercial Metals in the 3rd quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 522 shares during the last quarter. Riverhead Capital Management LLC boosted 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 buying an additional 2,492 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Commercial Metals in the 2nd quarter worth about $270,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Commercial Metals in the 3rd quarter worth about $282,000. 88.55% of the stock is currently owned by institutional investors.

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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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