The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $1.81 million.
As published in a research note from UBS on January 10, 2025, Commercial Metals Co [CMC] has been rated up from a Sell to a Neutral and the price target has been revised to $54 from $56. Analysts at Exane BNP Paribas downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early January. Earlier on December 12, 2024, UBS downgraded its rating. Their new recommendation was “a Sell” for CMC stock which previously was a “a Buy”.
Analyzing CMC Stock Performance
During the last five days, there has been a surge of approximately 2.35%. Over the course of the year, Commercial Metals Co shares have jumped approximately 1.09%. Shares of the company reached a 52-week high of $52.39 on 01/21/25 and a 52-week low of $45.50 on 01/10/25. A 50-day SMA is recorded $53.40, while a 200-day SMA reached $54.40. Nevertheless, trading volume fell to 1.66 million shares from 0.84 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 49.07, which, if violated, would cause prices to drop to 48.01. In the upper region, resistance lies at 51.03. The next price resistance is at 51.93. RSI (Relative Strength Index) is 49.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.69, which suggests the price will decrease in the coming days. Percent R is at 44.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
