Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 900 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 900 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.23, for a total transaction of $21,807.00. Following the completion of the sale, the director directly owned 101,393 shares in the company, valued at approximately $2,456,752.39. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Core Molding Technologies Price Performance

NYSEAMERICAN CMT traded up $0.19 during trading hours on Monday, reaching $24.83. The company’s stock had a trading volume of 33,490 shares, compared to its average volume of 29,037. The stock has a market cap of $220.99 million, a PE ratio of 22.17 and a beta of 0.44. Core Molding Technologies Inc has a fifty-two week low of $16.12 and a fifty-two week high of $28.69. The company’s 50-day moving average is $24.70 and its two-hundred day moving average is $21.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 2.41.

Core Molding Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, March 12th that allows the company to repurchase $7,500.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 4,581,831.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on CMT. Roth Mkm increased their price objective on shares of Core Molding Technologies from $22.00 to $24.00 and gave the company 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 report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Core Molding Technologies currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMT. Bard Associates Inc. purchased a new position in Core Molding Technologies in the 3rd quarter valued at about $2,689,000. Sei Investments Co. lifted its holdings in shares of Core Molding Technologies by 112.6% during the 1st quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock worth $5,052,000 after acquiring an additional 119,457 shares during the period. Teton Advisors LLC purchased a new position in shares of Core Molding Technologies during the 3rd quarter worth about $1,744,000. Royce & Associates LP lifted its holdings in shares of Core Molding Technologies by 17.3% during the 3rd quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock worth $4,758,000 after acquiring an additional 34,188 shares during the period. Finally, 22NW LP lifted its holdings in shares of Core Molding Technologies by 16.5% during the 3rd quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock worth $4,577,000 after acquiring an additional 31,516 shares during the period. 58.79% of the stock is currently owned by hedge funds and other institutional investors.

About Core Molding Technologies

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.