Commercial Metals (NYSE:CMC) CAO Adam R. Hickey sold 20,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $25.50, for a total value of $510,000.00. Following the completion of the sale, the chief accounting officer now owns 15,632 shares in the company, valued at approximately $398,616. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Commercial Metals (NYSE:CMC) traded up $0.37 during midday trading on Thursday, reaching $24.67. The company’s stock had a trading volume of 644,142 shares, compared to its average volume of 1,939,603. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. Commercial Metals has a 52-week low of $17.05 and a 52-week high of $26.72. The firm has a market cap of $2,935.62, a price-to-earnings ratio of 37.58 and a beta of 1.27.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. research analysts expect that Commercial Metals will post 1.41 EPS for the current year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Bank of America upgraded Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the company from $21.00 to $24.00 in a research note on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Commercial Metals presently has an average rating of “Hold” and a consensus target price of $21.88.
A number of hedge funds and other institutional investors have recently modified their holdings of CMC. Strs Ohio grew its holdings in Commercial Metals by 176.5% in the 4th quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Commercial Metals in the 3rd quarter valued at $101,000. Cerebellum GP LLC acquired a new position in Commercial Metals in the 4th quarter valued at $129,000. Global X Management Co. LLC grew its holdings in Commercial Metals by 75.2% in the 4th quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock valued at $171,000 after buying an additional 3,450 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Commercial Metals by 38.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after buying an additional 2,239 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: “Commercial Metals (CMC) CAO Adam R. Hickey Sells 20,000 Shares” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3231061/commercial-metals-cmc-cao-adam-r-hickey-sells-20000-shares.html.
About Commercial Metals
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.
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.