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Snatch This Bargain Metals Stock Even Cheaper Than Director McCullough Did

By Metals Channel Staff, Tuesday, November 30, 1:57 PM ET
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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 October 18, Commercial Metals Co.'s Director, Gary E. McCullough, invested $98,404.45 into 3,155 shares of CMC, for a cost per share of $31.19. 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 Tuesday, bargain hunters could buy shares of Commercial Metals Co. (NYSE:CMC) and achieve a cost basis 1.9% cheaper than McCullough, with shares changing hands as low as $30.59 per share. It should be noted that McCullough has collected $0.14/share in dividends since the time of their purchase, so they are currently down 1.5% on their purchase from a total return basis. Commercial Metals Co. shares are currently trading off about 3.7% on the day. The chart below shows the one year performance of CMC shares, versus its 200 day moving average:

Commercial Metals Co. Chart

Looking at the chart above, CMC's low point in its 52 week range is $19.44 per share, with $36.86 as the 52 week high point — that compares with a last trade of $30.79. 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
10/18/2021 Gary E. McCullough Director 3,155 $31.19 $98,404.45

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 10/26/2021. 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. 1.8% annualized yield is likely to continue.


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