Commercial metals executive sells over $2m in company stock By Investing.com

In a recent transaction, Barbara Smith, Vice Chairman of Commercial Metals Co (NYSE: CMC), has sold a large portion of her company’s stock, according to recent filings. The transaction, which took place on March 27, involved the sale of 35,704 shares at an average price of $57.88, amounting to $2,066,547.

These shares were not sold in one contract but in several trading positions with starting prices of $57.74 and $58.11. The exact number of shares traded at each price range is available upon request, as seen in the files. Following this sale, Smith still owns 36,196 shares of Commercial Metals directly.

In addition to his direct holdings, Smith is associated with a substantial value held indirectly through a limited partnership, consisting of 283,785 shares of Common Stock. The nature of this ownership reflects the company’s interest in going beyond its role as an executive.

Marketers often pay close attention to internal events such as these, as they can provide valuable information on the opinions of those who are familiar with the company’s performance and future prospects.

Commercial Metals, based in Irving, Texas, operates in the metals industry and is incorporated in Delaware. The company’s shares are traded on the New York Stock Exchange under the symbol CMC.

InvestingPro Insights

Commercial Metals Co (NYSE: CMC ) has recently been in the spotlight following insider activity. As stakeholders evaluate Vice Chairman Barbara Smith’s investment in the company’s stock, it is important to consider the various financial models and practices that can provide a better understanding of the company’s current state.

One of the keys InvestingPro Tips of CMC is a systematic sales process established by management. This aggressive approach to share repurchases is often seen as a sign of confidence and leadership in the company’s stock price. In addition, CMC has a proven track record of rewarding its shareholders, as evidenced by its high shareholder yield and consistent record of raising its dividend for three consecutive years.

Looking at the real data from InvestingPro, CMC has a Market Capitalization of about 6800M USD, with a Price / Earnings (P/E) Ratio of 10.08, reflecting the profitability of the industry it is in. The adjusted P/E ratio for the last twelve months as of Q2 2024 is slightly lower at 9.93. These numbers, when combined with the yield of free energy output, as someone pointed out InvestingPro Tipsshow the financial health of the company and its potential attractiveness to investors.

InvestingPro also provides a comprehensive list of additional recommendations, which include information such as a company’s ability to pay interest and cash flow, maintain dividend payouts for 54 consecutive years, and trade near its 52-week high. , it contributes to the financial stability of the company and can be very important for investors to make a wise decision.

For those interested in taking a deeper dive into the economics and philosophy of CMC, InvestingPro provides 16 guidelines for the company. Using a coupon code PRONEWS24readers can get an additional 10% discount on annual or bi-annual Pro and Pro + subscriptions, and unlock valuable information that can also inform investment strategies.

This article was created with the help of AI and reviewed by an editor. For more information see our T&C.

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