Thomas Cellitti Sells 3,000 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the transaction, the director directly owned 98,393 shares in the company, valued at $2,437,194.61. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Core Molding Technologies Price Performance

Shares of CMT stock opened at $23.43 on Wednesday. The firm has a market cap of $208.53 million, a price-to-earnings ratio of 20.92 and a beta of 0.44. Core Molding Technologies Inc has a 12 month low of $16.12 and a 12 month high of $28.69. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $24.78 and a 200 day moving average price of $21.57.

Core Molding Technologies announced that its board has approved a share repurchase program on Thursday, March 12th that allows the company to buyback $7,500.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 4,581,831.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Core Molding Technologies

Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Core Molding Technologies by 5.1% during the 4th quarter. Barclays PLC now owns 14,448 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 695 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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. BNP Paribas Financial Markets lifted its stake in Core Molding Technologies by 83.8% in the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after buying an additional 763 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Core Molding Technologies by 70.8% in the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after buying an additional 803 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Core Molding Technologies by 3.5% in the fourth quarter. Strs Ohio now owns 26,600 shares of the industrial products company’s stock valued at $533,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CMT shares. Roth Mkm raised their price target on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Zacks Research lowered Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.