Commercial Metals (CMC) was Smart Insider's stock pick of the week after the company's director John McPherson acquired $100,000 worth of company shares for $58.09 apiece on Oct. 20.

McPherson first bought the shares in April 2022 at $40 apiece and then acquired $100,000 worth of shares in April this year at $40 per share, Smart Insider said in a Tuesday note.

It is "interesting" to see the director has bought shares again after six months and at a 50% higher price, the note said, adding that it is "unusual" insider activity and he now owns $1.4 million worth of company shares.

Smart Insider renewed its +1 rank, or strong positive signal, on Oct. 22.