Saturday, June 25, 2022

Insider Buying: McPherson John R, Commercial Metals Company [CMC] Director bought 5,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Commercial Metals Company shares valued at $202,750 were purchased by McPherson John R on Apr 26. At $40.55 per share, McPherson John R acquired 5,000 shares. The insider’s holdings grew to 5,000 shares worth approximately $0.17 million following the completion of this transaction.

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Also, Smith Barbara sold 11,418 shares, netting a total of over 531,165 in proceeds. Following the sale of shares at $46.52 each, the insider now holds 508,785 shares.

Before that, Smith Barbara had sold 13,582 shares from its account. In a trade valued at $631,020, the Chairman, President & CEO traded Commercial Metals Company shares for $46.46 each. Upon closing the transaction, the insider’s holdings decreased to 13,582 shares, worth approximately $17.85 million.

As published in a research note from Exane BNP Paribas on January 21, 2022, Commercial Metals Company [CMC] has been rated up from a Neutral to an Outperform and the price target has been revised to $45. This represents a 23.76% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets upgraded the stock from ‘”a Sector weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid January. As of December 10, 2021, JP Morgan has increased its “Neutral” rating to a “an Overweight” for CMC. Earlier on November 17, 2021, Wolfe Research initiated its rating. Their recommendation was “an Outperform” for CMC stock.

Analyzing CMC’s Price Performance

On Wednesday, Commercial Metals Company [NYSE: CMC] plunged -6.21% to $34.31. The stock’s lowest price that day was $34.09, but it reached a high of $35.75 in the same session. During the last five days, there has been a drop of approximately -7.62%. Over the course of the year, Commercial Metals Company shares have dropped approximately -5.46%. Shares of the company reached a 52-week high of $46.68 on 04/21/22 and a 52-week low of $32.51 on 01/28/22. A 50-day SMA is recorded $39.66, while a 200-day SMA reached $36.18. Nevertheless, trading volume fell to 1.54 million shares from 1.21 million shares the previous day.

Support And Resistance Levels for Commercial Metals Company (CMC)

According to the 24-hour chart, there is a support level at 33.68, which, if violated, would cause prices to drop to 33.06. In the upper region, resistance lies at 35.34. The next price resistance is at 36.38. RSI (Relative Strength Index) is 35.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.62, which suggests the price will decrease in the coming days. Percent R is at 97.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Commercial Metals Company subject to short interest?

Stocks of Commercial Metals Company saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.25 million shares to 3.25 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 3.5 million shares. A decline of -7.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.98 of the overall float, the days-to-cover ratio (short ratio) decline to 2.98.

Which companies own the most shares of Commercial Metals Company (CMC)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,039,457 shares, which is about 10.73% of the total CMC shares outstanding. The investor’s shares have appreciated by 154,742 from its previous 13-F filing of 12884715.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $508,937,764. SSgA Funds Management, Inc. acquire a 22.33% interest valued at $297.74 million while Dimensional Fund Advisors LP sold a -87,128 stake. A total of 694,923 shares of Commercial Metals Company were sold by Fidelity Management & Research Co during the quarter, and 70,000 were bought by W.R. Berkley Corp. In its current portfolio, FIAM LLC holds 2,286,381 shares valued at $90.84 million.

In terms of Commercial Metals Company share price expectations, FactSet research, analysts set an average price target of $45.13 in the next 12 months, up nearly 21.65% from the previous closing price of $36.58. Analysts anticipate Commercial Metals Company stock to reach $54.00 by 2022, with the lowest price target being $36.00. In spite of this, 9 analysts ranked Commercial Metals Company stock as an Overweight at the end of 2022. On October 06, 2021, Goldman assigned a price target of “a Neutral” to the stock and upgraded coverage with a $33.

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