Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 513 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 513 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $24.02, for a total value of $12,322.26. Following the completion of the sale, the director directly owned 93,293 shares in the company, valued at approximately $2,240,897.86. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core Molding Technologies Stock Up 0.6%

Core Molding Technologies stock traded up $0.15 on Thursday, hitting $23.77. 16,839 shares of the stock traded hands, compared to its average volume of 29,174. The company has a current ratio of 2.41, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The firm has a market cap of $211.55 million, a P/E ratio of 21.22 and a beta of 0.44. The business’s fifty day simple moving average is $24.80 and its 200 day simple moving average is $21.78. Core Molding Technologies Inc has a 1 year low of $16.37 and a 1 year high of $28.69.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Roth Mkm boosted their price objective on shares of Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Zacks Research downgraded shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.00.

Institutional Investors Weigh In On Core Molding Technologies

A number of institutional investors have recently modified their holdings of CMT. BNP Paribas Financial Markets increased its holdings in shares of Core Molding Technologies by 83.8% during the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 763 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Core Molding Technologies by 70.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 803 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Core Molding Technologies during the 4th quarter valued at about $43,000. JPMorgan Chase & Co. grew its position in Core Molding Technologies by 18.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Core Molding Technologies by 34.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 2,593 shares in the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

Core Molding Technologies Company Profile

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.