Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells 2,000 Shares of Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.07, for a total transaction of $50,140.00. Following the completion of the transaction, the director directly owned 96,393 shares of the company’s stock, valued at $2,416,572.51. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Core Molding Technologies Price Performance

NYSEAMERICAN:CMT traded down $0.12 during trading hours on Wednesday, reaching $23.31. The company had a trading volume of 24,361 shares, compared to its average volume of 28,990. 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 of $24.80 and a two-hundred day moving average of $21.60. Core Molding Technologies Inc has a one year low of $16.12 and a one year high of $28.69. The firm has a market capitalization of $207.46 million, a PE ratio of 20.81 and a beta of 0.44.

Core Molding Technologies announced that its Board of Directors has authorized a stock buyback program on Thursday, March 12th that permits the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 4,581,831.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Core Molding Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bard Associates Inc. bought a new position in Core Molding Technologies in the third quarter valued at approximately $2,689,000. Teton Advisors LLC bought a new position in Core Molding Technologies in the third quarter valued at approximately $1,744,000. 22NW LP boosted its stake in Core Molding Technologies by 16.5% in the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after acquiring an additional 31,516 shares during the last quarter. Royce & Associates LP boosted its stake in Core Molding Technologies by 17.3% in the third quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock valued at $4,758,000 after acquiring an additional 34,188 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in Core Molding Technologies by 17.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock valued at $3,973,000 after acquiring an additional 30,062 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Wall Street Analyst Weigh In

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

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.