Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 2,000 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.07, for a total transaction of $50,140.00. Following the completion of the transaction, the director owned 96,393 shares of the company’s stock, valued at approximately $2,416,572.51. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Molding Technologies Stock Performance

Shares of CMT opened at $23.31 on Thursday. Core Molding Technologies Inc has a one year low of $16.12 and a one year high of $28.69. The company has a 50-day moving average of $24.80 and a two-hundred day moving average of $21.60. The stock has a market cap of $207.46 million, a price-to-earnings ratio of 20.81 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95.

Core Molding Technologies announced that its board has approved a stock repurchase program on Thursday, March 12th that authorizes the company to buyback $7,500.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Core Molding Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Core Molding Technologies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 391,207 shares of the industrial products company’s stock valued at $8,763,000 after purchasing an additional 2,922 shares during the period. Royce & Associates LP increased its position in Core Molding Technologies by 1.9% during the fourth quarter. Royce & Associates LP now owns 235,985 shares of the industrial products company’s stock worth $4,731,000 after acquiring an additional 4,463 shares during the period. Sei Investments Co. increased its position in Core Molding Technologies by 112.6% during the first 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 period. 22NW LP increased its position in Core Molding Technologies by 16.5% during 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 during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Core Molding Technologies by 17.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock worth $3,973,000 after acquiring an additional 30,062 shares during the period. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.