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.
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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