Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Commercial Metals Co shares valued at $3,046,668 were purchased by Smith Barbara on Oct 29 ’24. At $54.43 per share, Smith Barbara acquired 55,975 shares.
Also, Smith Barbara purchased 71,777 shares, netting a total of over 3,975,358 in proceeds.
Before that, Smith Barbara had sold 35,704 shares from its account. In a trade valued at $2,066,548, the Executive Chairman traded Commercial Metals Co shares for $57.88 each. Upon closing the transaction, the insider’s holdings decreased to 35,704 shares, worth approximately $2.12 million.
As published in a research note from UBS on December 12, 2024, Commercial Metals Co [CMC] has been rated down from a Buy to a Sell and the price target has been revised to $56. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of October 09, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for CMC. Earlier on September 03, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for CMC stock.
Analyzing CMC Stock Performance
During the last five days, there has been a drop of approximately -5.02%. Over the course of the year, Commercial Metals Co shares have jumped approximately 17.13%. Shares of the company reached a 52-week high of $64.53 on 12/03/24 and a 52-week low of $47.42 on 09/11/24. A 50-day SMA is recorded $57.65, while a 200-day SMA reached $55.40. Nevertheless, trading volume fell to 1.12 million shares from 0.89 million shares the previous day.
Support And Resistance Levels for Commercial Metals Co (CMC)
According to the 24-hour chart, there is a support level at 57.86, which, if violated, would cause prices to drop to 57.11. In the upper region, resistance lies at 59.90. The next price resistance is at 61.19. RSI (Relative Strength Index) is 43.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.11, which suggests the price will decrease in the coming days. Percent R is at 96.57%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
