Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $21,807.00 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 900 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.23, for a total value of $21,807.00. Following the completion of the transaction, the director owned 101,393 shares in the company, valued at $2,456,752.39. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Molding Technologies Trading Down 0.5%

Shares of CMT opened at $23.31 on Thursday. 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 $16.12 and a 1 year high of $28.69. The company has a 50 day simple moving average of $24.80 and a two-hundred day simple moving average of $21.60. The firm has a market cap of $207.46 million, a P/E ratio of 20.81 and a beta of 0.44.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bard Associates Inc. purchased a new position in shares of Core Molding Technologies in the third quarter valued at $2,689,000. Teton Advisors LLC purchased a new position in shares of Core Molding Technologies in the third quarter valued at $1,744,000. 22NW LP grew its holdings in shares of 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 purchasing an additional 31,516 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 30,062 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of 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 purchasing an additional 34,188 shares in the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMT has been the subject of a number of research analyst reports. Zacks Research lowered shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. 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 report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Core Molding Technologies currently has a consensus rating of “Hold” and an average target price 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.