Commercial Metals Sees Unusually High Options Volume (CMC)
Commercial Metals Company (CSE:CMC) was the recipient of some unusual options trading on Thursday. Investors purchased 1,925 call options on the company. This is an increase of Infinity compared to the average volume of 0 call options.
An institutional investor recently bought a new position in Commercial Metals stock. Engineers Gate Manager LP purchased a new stake in shares of Commercial Metals Company (CSE:CMC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,356 shares of the basic materials company’s stock, valued at approximately $349,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.
Commercial Metals (CSE:CMC) opened at $18.63 on Tuesday. Commercial Metals has a one year low of $17.05 and a one year high of $24.64. The firm has a market cap of $2,158.10, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 7th. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.
A number of research firms have recently weighed in on CMC. BidaskClub lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Clarkson Capital restated a “sell” rating and issued a $16.00 price objective on shares of Commercial Metals in a report on Tuesday, August 15th. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a report on Monday, September 4th. Bank of America Corporation restated a “neutral” rating and issued a $21.00 price objective (up from $20.00) on shares of Commercial Metals in a report on Tuesday, September 5th. Finally, Macquarie started coverage on shares of Commercial Metals in a report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.50.
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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