Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $12,322.26 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 513 shares of Core Molding Technologies stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $24.02, for a total value of $12,322.26. Following the completion of the sale, the director owned 93,293 shares of the company’s stock, valued at $2,240,897.86. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Core Molding Technologies Stock Down 0.4%

Shares of Core Molding Technologies stock opened at $23.67 on Friday. 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 1 year low of $16.37 and a 1 year high of $28.69. The firm’s 50-day moving average is $24.70 and its two-hundred day moving average is $21.82. The stock has a market cap of $210.66 million, a price-to-earnings ratio of 21.13 and a beta of 0.44.

Core Molding Technologies announced that its board has approved a stock repurchase plan on Thursday, March 12th that allows the company to repurchase $7,500.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 4,581,831.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Core Molding Technologies

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Core Molding Technologies by 83.8% in the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 763 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Core Molding Technologies by 70.8% in the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 803 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Core Molding Technologies during the fourth quarter valued at about $43,000. JPMorgan Chase & Co. lifted its position in shares of Core Molding Technologies by 18.6% during the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after buying an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Core Molding Technologies by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after buying an additional 2,593 shares in the last quarter. Institutional investors own 58.79% of the company’s stock.

Analyst Upgrades and Downgrades

CMT has been the topic of a number of recent research reports. 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 downgraded shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Core Molding Technologies currently has a consensus rating of “Hold” and a consensus price target 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.