Core & Main, Inc. (NYSE:CNM – Get Free Report) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 8,950,000 shares, a growth of 18.2% from the July 31st total of 7,570,000 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,200,000 shares, the days-to-cover ratio is currently 4.1 days.
Core & Main Price Performance
Core & Main stock traded down $0.25 during midday trading on Friday, reaching $48.03. The company’s stock had a trading volume of 3,665,231 shares, compared to its average volume of 2,449,114. The stock has a market cap of $9.68 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Core & Main has a 52 week low of $27.75 and a 52 week high of $62.15. The business has a 50-day moving average price of $50.40 and a 200-day moving average price of $52.67.
Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, sell-side analysts predict that Core & Main will post 2.32 EPS for the current year.
Analyst Upgrades and Downgrades
Get Our Latest Research Report on Core & Main
Insider Transactions at Core & Main
In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the sale, the director now owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.49% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CNM. Rise Advisors LLC bought a new stake in Core & Main during the 1st quarter worth $27,000. Quadrant Capital Group LLC grew its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Core & Main in the first quarter valued at approximately $38,000. GAMMA Investing LLC acquired a new position in shares of Core & Main in the fourth quarter valued at approximately $41,000. Finally, Principal Securities Inc. bought a new position in Core & Main in the 4th quarter valued at approximately $43,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.
About Core & Main
Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.
Read More
- Five stocks we like better than Core & Main
- How to Capture the Benefits of Dividend Increases
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- Short Selling: How to Short a Stock
- Why Dell Can Continue Winning in AI and Beyond
- Ride Out The Recession With These Dividend Kings
- Veeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss Out
Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.