Commercial Metals Company (CMC) : The traders have covered their outstanding shorts in Commercial Metals Company (CMC) to the tune of -792,583 shares, a change of -5.9%. As on Jul 29, 2016, the outstanding shorts on the stock were 13,381,487 shares, however, by August 15, 2016, the shorts had reduced to 12,588,904 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 11.1% of the free float of the stock. It takes 11 days to cover the outstanding short positions. The stock has an average daily volume of 1,182,995 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Commercial Metals Company (NYSE:CMC): The stock opened at $16.02 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.02 for the day. The stock traded down to $15.69 during the day, due to lack of any buying support eventually closed down at $15.73 with a loss of -2.36% for the day. The stock had closed at $16.11 on the previous day. The total traded volume was 1,130,729 shares.
In a related news, The director, of Commercial Metals Co, Massaro Anthony A had unloaded 2,367 shares at $16.36 per share in a transaction on July 5, 2016. The total value of transaction was $38,724. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution. The Americas Recycling segment processes scrap metals. The Americas Mills segment includes five steel minimills; two scrap metal shredders, and 10 scrap metal processing facilities. The Americas Fabrication segment consists of CMCs steel fabrication facilities. The International Mill segment comprises CMCs mill, recycling and fabrication operations located in Poland. International Marketing and Distribution segment includes international operations for the sales, distribution and processing of steel products, ferrous and nonferrous metals, and other industrial products.