Insider Sell: CEO David Duvall Sells 15,000 Shares of Core Molding Technologies Inc
On September 25, 2023, David Duvall, CEO of Core Molding Technologies Inc (CMT), sold 15,000 shares of the company. This move is part of a series of insider transactions that have been taking place over the past year.
David Duvall is a seasoned executive with a wealth of experience in the manufacturing industry. As the CEO of Core Molding Technologies Inc, he has been instrumental in steering the company towards growth and profitability. His insider trades provide valuable insights into the company's financial health and future prospects.
Core Molding Technologies Inc is a leading provider of high-quality molded products, assemblies, and innovative material technologies. The company serves a diverse range of markets, including medium and heavy-duty truck, marine, automotive, agriculture, construction, and other commercial products.
Over the past year, David Duvall has sold a total of 35,000 shares and purchased 2,500 shares. This recent sale represents a significant portion of his transactions during this period.
The insider transaction history for Core Molding Technologies Inc shows a trend of more sells than buys. Over the past year, there have been 3 insider buys and 22 insider sells. This could indicate that insiders believe the company's stock is overvalued, prompting them to sell their shares.
On the day of the insider's recent sale, shares of Core Molding Technologies Inc were trading for $28.03 apiece, giving the stock a market cap of $234.518 million. The price-earnings ratio is 11.85, which is lower than both the industry median of 22 and the companys historical median price-earnings ratio.
With a price of $28.03 and a GuruFocus Value of $15.39, Core Molding Technologies Inc has a price-to-GF-Value ratio of 1.82. This suggests that the stock is significantly overvalued based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the companys past returns and growth, and future estimates of business performance from Morningstar analysts.
The recent insider sell by David Duvall, coupled with the stock's high price-to-GF-Value ratio, could be a signal to investors that the stock is currently overvalued. However, investors should also consider other factors such as the company's financial health, market conditions, and future growth prospects before making investment decisions.
This article first appeared on GuruFocus.
