Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 3,000 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the transaction, the director owned 98,393 shares of the company’s stock, valued at approximately $2,437,194.61. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Molding Technologies Stock Up 0.8%

CMT stock opened at $24.83 on Tuesday. The stock has a 50-day simple moving average of $24.75 and a two-hundred day simple moving average of $21.54. Core Molding Technologies Inc has a twelve month low of $16.12 and a twelve month high of $28.69. The firm has a market capitalization of $220.99 million, a PE ratio of 22.17 and a beta of 0.44. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11.

Core Molding Technologies declared that its Board of Directors has approved a stock buyback plan on Thursday, March 12th that permits the company to repurchase $7,500.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 4,581,831.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CMT has been the topic of several research analyst reports. Zacks Research cut shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Roth Mkm boosted their target price on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

Institutional Investors Weigh In On Core Molding Technologies

Hedge funds have recently bought and sold shares of the stock. Bard Associates Inc. bought a new position in shares of Core Molding Technologies in the 3rd quarter worth $2,689,000. Sei Investments Co. lifted its holdings in shares of Core Molding Technologies by 112.6% during the 1st quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock worth $5,052,000 after acquiring an additional 119,457 shares during the last quarter. Teton Advisors LLC bought a new stake in shares of Core Molding Technologies during the 3rd quarter worth $1,744,000. Royce & Associates LP grew its position in Core Molding Technologies by 17.3% in the third quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock worth $4,758,000 after acquiring an additional 34,188 shares in the last quarter. Finally, 22NW LP grew its position in Core Molding Technologies by 16.5% in the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock worth $4,577,000 after acquiring an additional 31,516 shares in the last quarter. 58.79% of the stock is currently owned by institutional investors.

About Core Molding Technologies

Core Molding Technologies is a publicly traded manufacturer specializing in engineered composite and polymer solutions for a wide array of industrial applications. The company’s core business includes the design, tooling and high-volume production of fiberglass-reinforced plastics, advanced polyurethane systems, structural composites and specialty coatings. Its products find use in commercial vehicles, off-highway equipment, defense, power sports, recreation and industrial markets.

Core Molding offers end-to-end services ranging from digital design and prototyping to mold fabrication, process development and full-scale manufacturing.