Michael James Gayford Buys 500 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) EVP Michael James Gayford purchased 500 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $20.12 per share, for a total transaction of $10,060.00. Following the completion of the purchase, the executive vice president directly owned 27,167 shares of the company’s stock, valued at approximately $546,600.04. This trade represents a 1.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Core Molding Technologies Stock Down 1.4%

Shares of CMT traded down $0.30 during mid-day trading on Thursday, hitting $20.44. 19,372 shares of the company’s stock were exchanged, compared to its average volume of 24,354. The stock’s 50-day moving average is $19.34 and its 200-day moving average is $19.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.45 and a current ratio of 3.02. Core Molding Technologies Inc has a fifty-two week low of $13.99 and a fifty-two week high of $22.29. The company has a market cap of $180.49 million, a price-to-earnings ratio of 15.72 and a beta of 0.44.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its earnings results on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. The firm had revenue of $74.68 million for the quarter, compared to the consensus estimate of $66.44 million. Core Molding Technologies had a net margin of 4.09% and a return on equity of 7.26%. On average, sell-side analysts anticipate that Core Molding Technologies Inc will post 1.64 earnings per share for the current fiscal year.

Core Molding Technologies declared that its board has approved 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 reacquire up to 4,581,831.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their target price 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.00.

Institutional Trading of Core Molding Technologies

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in 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 worth $34,000 after acquiring an additional 763 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 valued at $39,000 after purchasing an additional 803 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Core Molding Technologies during the 4th quarter worth $43,000. JPMorgan Chase & Co. lifted 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 purchasing an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Core Molding Technologies by 34.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 2,593 shares in 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.