Grab This Bargain Metals Stock Even Cheaper Than Director McPherson Did
There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on April 26, Commercial Metals Co.’s Director, John R. McPherson, invested $202,750.00 into 5,000 shares of CMC, for a cost per share of $40.55. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Commercial Metals Co. (Symbol: CMC) and achieve a cost basis 5.1% cheaper than McPherson, with shares changing hands as low as $38.47 per share. Commercial Metals Co. shares are currently trading off about 0.3% on the day. The chart below shows the one year performance of CMC shares, versus its 200 day moving average:
Looking at the chart above, CMC’s low point in its 52 week range is $28.76 per share, with $46.68 as the 52 week high point — that compares with a last trade of $39.50. By comparison, below is a table showing the prices at which CMC insider buying was recorded over the last six months:
Purchased Insider Title Shares Price/Share Value 04/26/2022 John R. McPherson Director 5,000 $40.55 $202,750.00
The current annualized dividend paid by Commercial Metals Co. is $0.56/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 03/29/2022. Below is a long-term dividend history chart for CMC, which can be of good help in judging whether the most recent dividend with approx. 1.4% annualized yield is likely to continue.
Free Report: Top 7%+ Dividends (paid monthly)
Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.