In a recent transaction, Kevin A. Raketich, the Executive Vice President and Chief Commercial Officer of Metallus Inc. (NYSE:MTUS), sold 1,000 shares of the company's stock. The sale, which took place on May 15, 2024, was executed at a price of $23.00 per share, totaling $23,000.
The transaction was conducted under a pre-arranged trading plan known as a 10b5-1 plan, which allows company insiders to sell shares at a predetermined time to avoid accusations of insider trading. This plan had been adopted by Raketich on August 21, 2023, and the recent sale was made in accordance with this plan.
Following the sale, Raketich still holds a significant number of Metallus Inc. shares. The filing indicated that he retains 82,551 shares directly, and an additional 1,843 shares are held indirectly through a 401(k) plan.
Investors often monitor insider transactions as they can provide insights into an insider's perspective on the value of the company's stock. The sale of shares by a high-level executive like Raketich may be of particular interest to current and potential shareholders.
The company, Metallus Inc., with its headquarters in Canton, Ohio, operates in the steel industry and is known for its steel works, blast furnaces, and rolling mills.
This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency on the trades made by the company's insiders.
InvestingPro Insights
Amidst the news of insider transactions at Metallus Inc. (NYSE:MTUS), investors have been closely watching the company's stock performance and financial health. The recent sale by Executive Vice President and Chief Commercial Officer Kevin A. Raketich has brought additional attention to Metallus's market position.
From an investment standpoint, Metallus Inc. presents a compelling picture with a P/E ratio of 12.66, indicating a potentially undervalued stock relative to its earnings. This is further supported by the company's strong financials, as Metallus holds more cash than debt on its balance sheet—an InvestingPro Tip that underscores the company's solid financial footing. Additionally, Metallus has been experiencing a significant return over the last week, with a 12.78% price total return, showcasing a robust short-term performance.
Investors may also find the InvestingPro Tip regarding the company's management behavior to be of interest. Metallus's management has been aggressively buying back shares, which can often be interpreted as a sign of confidence in the company's future prospects and a commitment to enhancing shareholder value.
For those considering an investment in Metallus Inc., it's worth noting that the company is trading near its 52-week high, with the price at 94.49% of the peak. This could indicate a strong market sentiment towards the company's stock. Moreover, with a fair value estimation by InvestingPro at $27.07, there appears to be potential upside compared to the previous close price of $22.64.
To gain deeper insights and additional InvestingPro Tips on Metallus Inc., interested investors can explore further by visiting https://www.investing.com/pro/MTUS. There are 14 additional tips available on InvestingPro that could help investors make more informed decisions. To get an extra edge, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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