Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $50,140.00 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,000 shares of Core Molding Technologies stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.07, for a total transaction of $50,140.00. Following the completion of the sale, the director owned 96,393 shares in the company, valued at approximately $2,416,572.51. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core Molding Technologies Price Performance

Shares of CMT stock opened at $23.80 on Friday. The company’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $21.65. Core Molding Technologies Inc has a 52 week low of $16.16 and a 52 week high of $28.69. The stock has a market cap of $211.82 million, a P/E ratio of 21.25 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 has approved a share repurchase plan on Thursday, March 12th that permits the company to buyback $7,500.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Institutional investors have recently bought and sold shares of the stock. Bard Associates Inc. purchased a new stake in Core Molding Technologies in the 3rd quarter worth $2,689,000. Teton Advisors LLC bought a new position in shares of Core Molding Technologies during the 3rd quarter valued at about $1,744,000. 22NW LP grew its position in shares of Core Molding Technologies by 16.5% during the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after purchasing an additional 31,516 shares in the last quarter. Royce & Associates LP grew its position in shares of Core Molding Technologies by 17.3% during the third quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock valued at $4,758,000 after purchasing an additional 34,188 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Core Molding Technologies by 17.9% in 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 purchasing an additional 30,062 shares during the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMT has been the topic of a number of recent research reports. 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. Roth Mkm lifted 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. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.