Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $74,310.00 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.77, for a total transaction of $74,310.00. Following the completion of the transaction, the director owned 98,393 shares in the company, valued at approximately $2,437,194.61. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Core Molding Technologies Price Performance

NYSEAMERICAN:CMT opened at $23.31 on Thursday. The firm has a market cap of $207.46 million, a PE ratio of 20.81 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 company’s 50-day moving average price is $24.80 and its two-hundred day moving average price is $21.60.

Core Molding Technologies declared that its board has approved a share 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 purchase up to 4,581,831.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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. Roth Mkm boosted their price target on shares of Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Core Molding Technologies presently has an average rating of “Hold” and an average target price of $24.00.

Institutional Investors Weigh In On Core Molding Technologies

A number of institutional investors and hedge funds have recently modified their holdings of CMT. Bard Associates Inc. bought a new stake in shares of Core Molding Technologies during the third quarter worth approximately $2,689,000. Sei Investments Co. raised its stake in shares of Core Molding Technologies by 112.6% during the first quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock worth $5,052,000 after buying an additional 119,457 shares during the last quarter. Teton Advisors LLC bought a new stake in shares of Core Molding Technologies during the third quarter worth approximately $1,744,000. Royce & Associates LP raised its stake in shares of Core Molding Technologies by 17.3% during the third quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock worth $4,758,000 after buying an additional 34,188 shares during the last quarter. Finally, 22NW LP raised its stake in shares of Core Molding Technologies by 16.5% during the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock worth $4,577,000 after buying an additional 31,516 shares during the last quarter. 58.79% of the stock is owned by 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.