Insider Selling: Commercial Metals (NYSE:CMC) Insider Sells 25,050 Shares of Stock

Commercial Metals Company (NYSE:CMC) insider Jennifer Durbin sold 25,050 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 52,880 shares in the company, valued at $4,228,813.60. The trade was a 32.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Commercial Metals Stock Up 0.9%

Shares of CMC stock traded up $0.77 during trading hours on Wednesday, hitting $82.64. 1,423,011 shares of the company’s stock traded hands, compared to its average volume of 1,397,673. 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 stock’s fifty day simple moving average is $71.59 and its two-hundred day simple moving average is $62.42. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $84.12. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.43 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last posted 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 company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

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

Institutional Trading of Commercial Metals

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in shares of Commercial Metals in the third quarter valued at about $25,000. Rothschild Investment LLC raised its stake in Commercial Metals by 169.6% during the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 324 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 511 shares in the last quarter. Spire Wealth Management lifted its holdings in Commercial Metals by 42.4% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 302 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Morgan Stanley upped their target price on shares of Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Jefferies Financial Group set a $85.00 price target on shares of Commercial Metals and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, UBS Group reissued a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Commercial Metals has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Commercial Metals Company Profile

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.