Thomas Cellitti Sells 750 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $24.07, for a total value of $18,052.50. Following the sale, the director directly owned 92,543 shares in the company, valued at $2,227,510.01. This trade represents a 0.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core Molding Technologies Stock Performance

CMT opened at $23.67 on Friday. The stock has a market cap of $210.66 million, a P/E ratio of 21.13 and a beta of 0.44. 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. Core Molding Technologies Inc has a 1-year low of $16.37 and a 1-year high of $28.69.

Core Molding Technologies announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in Core Molding Technologies by 83.8% in the 3rd 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 increased its position in Core Molding Technologies by 70.8% during the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock worth $39,000 after buying an additional 803 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Core Molding Technologies in the fourth quarter worth $43,000. JPMorgan Chase & Co. raised its holdings in shares of Core Molding Technologies by 18.6% in the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Core Molding Technologies by 34.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 2,593 shares during the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CMT. Roth Mkm lifted their price target on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Zacks Research lowered shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research report 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.com, the company currently 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.