Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $59,880.00 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,495 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total transaction of $59,880.00. Following the completion of the transaction, the director directly owned 93,818 shares of the company’s stock, valued at $2,251,632. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Core Molding Technologies Trading Down 1.9%

NYSEAMERICAN:CMT traded down $0.46 during mid-day trading on Monday, reaching $23.34. The company’s stock had a trading volume of 56,677 shares, compared to its average volume of 29,328. The company’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $21.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. Core Molding Technologies Inc has a twelve month low of $16.16 and a twelve month high of $28.69. The stock has a market cap of $207.73 million, a P/E ratio of 20.84 and a beta of 0.44.

Core Molding Technologies declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 12th that permits the company to repurchase $7,500.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on CMT shares. Roth Mkm lifted their price target on shares of 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 downgraded 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 issued a Sell rating to the stock. According to data from MarketBeat, Core Molding Technologies currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMT. Bard Associates Inc. acquired a new stake in Core Molding Technologies during the third quarter valued at approximately $2,689,000. Sei Investments Co. grew its position in Core Molding Technologies by 112.6% in 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 position in shares of Core Molding Technologies in the third quarter valued at $1,744,000. Royce & Associates LP lifted its position 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 valued at $4,758,000 after acquiring an additional 34,188 shares during the last quarter. Finally, 22NW LP lifted its position 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 valued at $4,577,000 after acquiring an additional 31,516 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

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.