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Commercial Metals Company (CMC) traded on unusually high volume on Aug. 14, as the stock lost 1.24% to close at $21.53. On the day, Commercial Metals Company saw 1.35 million shares trade hands on 8,521 trades. Considering that the stock averages only a daily volume of 780,470 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $26.72 and $17.05 over the last 52-weeks, its 50-day SMA is now $22.46, and its 200-day SMA $22.06. Commercial Metals Company has a P/B ratio of 1.74. It also has a P/E ratio of 45.4.
Commercial Metals Co manufactures, recycles and markets steel and metal products and related materials and services. Its products and services include metal recycling, mill products, fabrication,construction products etc.
Headquartered in Irving, TX, Commercial Metals Company has 8,797 employees and is currently under the leadership of CEO .
For a complete fundamental analysis analysis of Commercial Metals Company, check out Equities.com’s Stock Valuation Analysis report for CMC.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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