Insider Buying: Commercial Metals (NYSE:CMC) Director Acquires 1,722 Shares of Stock

Key Points

• Commercial Metals Company (NYSE:CMC) Director John Mcpherson purchased 1,722 shares at $58.09 each, increasing his stake in the company by 34.44% and bringing his total shares to 6,722.
• The company recently reported a quarterly earnings per share of $1.37, surpassing analysts' expectations of $1.32, along with a revenue of $2.11 billion.
• Commercial Metals declared a quarterly dividend of $0.18 per share, with an annualized yield of 1.2%, and will be paid to investors of record on October 30th.

Commercial Metals Company (NYSE:CMC - Get Free Report) Director John Mcpherson bought 1,722 shares of the company's stock in a transaction on Monday, October 20th. The stock was bought at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the purchase, the director owned 6,722 shares of the company's stock, valued at approximately $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Commercial Metals Stock Performance

CMC traded up $3.36 during midday trading on Tuesday, reaching $61.98. The company had a trading volume of 2,242,706 shares, compared to its average volume of 1,117,638. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The stock has a market cap of $6.94 billion, a PE ratio of 81.55, a P/E/G ratio of 1.93 and a beta of 1.32. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The business has a 50-day moving average price of $57.97 and a two-hundred day moving average price of $51.62.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.05. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 30th. Commercial Metals's dividend payout ratio is presently 94.74%.

Hedge Funds Weigh In On Commercial Metals

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of Commercial Metals by 2.3% in the 3rd quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company's stock worth $451,000 after buying an additional 180 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company's stock valued at $235,000 after purchasing an additional 202 shares during the last quarter. Isthmus Partners LLC grew its holdings in shares of Commercial Metals by 3.2% during the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock valued at $340,000 after purchasing an additional 226 shares during the last quarter. Choreo LLC grew its holdings in shares of Commercial Metals by 2.1% during the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock valued at $509,000 after purchasing an additional 228 shares during the last quarter. Finally, Paulson Wealth Management Inc. grew its holdings in shares of Commercial Metals by 5.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 4,674 shares of the basic materials company's stock valued at $229,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

CMC has been the topic of a number of recent research reports. Bank of America upped their price target on shares of Commercial Metals from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Citigroup upgraded shares of Commercial Metals from a "neutral" rating to a "buy" rating and upped their price target for the company from $60.00 to $65.00 in a research note on Friday. UBS Group upped their target price on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Wells Fargo & Company upped their target price on shares of Commercial Metals from $61.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Finally, Morgan Stanley set a $57.50 target price on shares of Commercial Metals in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Commercial Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.85.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.