Stock Traders Buy Large Volume of Call Options on Commercial Metals (CMC)

Commercial Metals (NYSE:CMC) was the recipient of some unusual options trading activity on Thursday. Traders acquired 2,803 call options on the stock. This is an increase of 1,423% compared to the average daily volume of 184 call options.

In other news, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at approximately $250.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total transaction of $174,345.90. Following the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Commercial Metals by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,837,096 shares of the basic materials company’s stock worth $249,424,000 after acquiring an additional 264,915 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Commercial Metals by 13.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after acquiring an additional 526,185 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Commercial Metals by 0.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock worth $85,090,000 after acquiring an additional 35,385 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Commercial Metals by 58.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after acquiring an additional 1,117,876 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Commercial Metals by 7.4% in the 2nd quarter. Northern Trust Corp now owns 2,858,394 shares of the basic materials company’s stock worth $55,539,000 after acquiring an additional 196,113 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

Commercial Metals (CMC) opened at $24.82 on Friday. 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 firm has a market cap of $2,926.29, a P/E ratio of 37.61 and a beta of 1.26. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $25.90.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.07 EPS for the quarter, missing the 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%. sell-side analysts anticipate that Commercial Metals will post 1.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, January 12th. Commercial Metals’s payout ratio is presently 72.73%.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a report on Tuesday, October 17th. Jefferies Group raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Four analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.88.

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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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