Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 750 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 750 shares of Core Molding Technologies stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $24.07, for a total value of $18,052.50. Following the sale, the director directly owned 92,543 shares in the company, valued at $2,227,510.01. The trade was a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Core Molding Technologies Stock Performance

CMT opened at $23.77 on Friday. The stock’s 50 day simple moving average is $24.75 and its 200-day simple moving average is $21.81. 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 stock has a market cap of $211.55 million, a PE ratio of 21.22 and a beta of 0.44. Core Molding Technologies Inc has a 1 year low of $16.37 and a 1 year high of $28.69.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Core Molding Technologies

A number of hedge funds have recently added to or reduced their stakes in CMT. Empowered Funds LLC increased its position in Core Molding Technologies by 7.6% in the first quarter. Empowered Funds LLC now owns 40,862 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 2,888 shares during the period. Geode Capital Management LLC boosted its stake in shares of Core Molding Technologies by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 183,910 shares of the industrial products company’s stock valued at $3,051,000 after purchasing an additional 4,332 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Core Molding Technologies by 18.6% in 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. Rhumbline Advisers grew its position in shares of Core Molding Technologies by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock worth $210,000 after buying an additional 1,038 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of Core Molding Technologies by 46.2% during the 2nd quarter. Quantinno Capital Management LP now owns 25,769 shares of the industrial products company’s stock worth $428,000 after buying an additional 8,146 shares during the period. Institutional investors own 58.79% of the company’s stock.

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.