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

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 513 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $24.02, for a total value of $12,322.26. Following the sale, the director owned 93,293 shares of the company’s stock, valued at $2,240,897.86. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Core Molding Technologies Price Performance

CMT opened at $23.67 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. The stock’s 50 day simple moving average is $24.70 and its 200 day simple moving average is $21.82. The firm has a market cap of $210.66 million, a price-to-earnings ratio of 21.13 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 declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 12th that permits the company to repurchase $7,500.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 4,581,831.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bard Associates Inc. bought a new stake in shares of Core Molding Technologies in the 3rd quarter worth approximately $2,689,000. Teton Advisors LLC purchased a new position in shares of Core Molding Technologies during the third quarter valued at approximately $1,744,000. 22NW LP raised its holdings 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 acquiring an additional 31,516 shares in the last quarter. Royce & Associates LP raised its holdings 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 acquiring an additional 34,188 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in 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 acquiring an additional 30,062 shares during the period. Institutional investors own 58.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CMT. Zacks Research lowered shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. 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. One investment 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, Core Molding Technologies currently has an average rating of “Hold” and a consensus price target of $24.00.

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.