Core Molding Technologies (NYSEAMERICAN:CMT) Rating Increased to Hold at Zacks Research

Core Molding Technologies (NYSEAMERICAN:CMT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Roth Capital 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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Core Molding Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Core Molding Technologies Stock Down 0.9%

Shares of NYSEAMERICAN CMT opened at $23.28 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. The stock has a market capitalization of $207.19 million, a PE ratio of 20.79 and a beta of 0.43. Core Molding Technologies has a one year low of $16.37 and a one year high of $28.69. The business’s fifty day moving average price is $24.15 and its 200-day moving average price is $22.00.

Core Molding Technologies declared that its Board of Directors has authorized a share repurchase program 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 purchase up to 4,581,831.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Core Molding Technologies

In related news, Director Thomas R. Cellitti sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the transaction, the director directly owned 98,393 shares in the company, valued at approximately $2,437,194.61. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 9,900 shares of company stock worth $242,320 over the last ninety days. 11.20% of the stock is currently owned by insiders.

Institutional Trading of Core Molding Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CMT. Bard Associates Inc. purchased a new stake in shares of Core Molding Technologies in the 3rd quarter valued at $2,689,000. Sei Investments Co. lifted its stake 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 purchasing an additional 119,457 shares during the last quarter. 22NW LP lifted 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 worth $4,577,000 after purchasing an additional 31,516 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Core Molding Technologies by 17.9% during 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 buying an additional 30,062 shares during the period. Finally, Bristlecone Value Partners LLC bought a new position in shares of Core Molding Technologies during the fourth quarter valued at about $401,000. Hedge funds and other institutional investors 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.