Insider Selling: Commercial Metals (CMC) VP Sells 20,000 Shares of Stock
Commercial Metals (NYSE:CMC) VP Adam R. Hickey sold 20,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $25.85, for a total transaction of $517,000.00. Following the transaction, the vice president now owns 15,632 shares in the company, valued at approximately $404,087.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Commercial Metals (NYSE CMC) traded down $0.24 during mid-day trading on Monday, reaching $25.73. 1,185,996 shares of the company’s stock were exchanged, compared to its average volume of 1,976,783. Commercial Metals has a twelve month low of $17.05 and a twelve month high of $26.72. The stock has a market capitalization of $3,028.93, a PE ratio of 38.99 and a beta of 1.21. 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 (NYSE:CMC) last announced its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. sell-side analysts predict that Commercial Metals will post 1.41 earnings per share for the current year.
A number of research analysts recently weighed in on CMC shares. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. ValuEngine upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Four investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Commercial Metals has an average rating of “Hold” and an average price target of $21.88.
WARNING: This piece of content was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.watchlistnews.com/insider-selling-commercial-metals-cmc-vp-sells-20000-shares-of-stock/1910097.html.
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.
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.