Core Molding Technologies (NYSEAMERICAN:CMT) Raised to “Hold” at Zacks Research

Core Molding Technologies (NYSEAMERICAN:CMT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Separately, Roth Capital lifted their price target on Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Core Molding Technologies Stock Down 0.9%

Shares of CMT opened at $23.28 on Monday. The company has a market capitalization of $207.19 million, a P/E ratio of 20.79 and a beta of 0.43. Core Molding Technologies has a one year low of $16.37 and a one year high of $28.69. The business’s 50 day simple moving average is $24.15 and its 200-day simple moving average is $22.00. 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 declared that its board has initiated a share repurchase plan on Thursday, March 12th that allows the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Core Molding Technologies

In other news, Director Thomas R. Cellitti sold 2,495 shares of Core Molding Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total transaction of $59,880.00. Following the completion of the sale, the director owned 93,818 shares in the company, valued at $2,251,632. The trade was a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 9,900 shares of company stock worth $242,320. 11.20% of the stock is owned by insiders.

Institutional Trading of Core Molding Technologies

A number of institutional investors have recently bought and sold shares of CMT. BNP Paribas Financial Markets raised its position in shares of Core Molding Technologies by 83.8% during the 3rd 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 during the last quarter. NewEdge Advisors LLC boosted its position in shares of 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 during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Core Molding Technologies during the fourth quarter worth $43,000. JPMorgan Chase & Co. grew its position in shares of 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 worth $78,000 after buying an additional 738 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Core Molding Technologies by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 2,593 shares during the last quarter. Institutional investors and hedge funds 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.