Thomas Cellitti Sells 3,000 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) 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 stock was sold at an average price of $24.77, for a total transaction of $74,310.00. Following the sale, the director directly owned 98,393 shares in the company, valued at $2,437,194.61. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Core Molding Technologies Stock Up 0.8%

NYSEAMERICAN:CMT traded up $0.19 on Monday, hitting $24.83. 33,490 shares of the company’s stock were exchanged, compared to its average volume of 29,037. 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 firm has a 50-day moving average price of $24.70 and a 200-day moving average price of $21.50. The company has a market cap of $220.99 million, a P/E ratio of 22.17 and a beta of 0.44. Core Molding Technologies Inc has a 52 week low of $16.12 and a 52 week high of $28.69.

Core Molding Technologies announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bard Associates Inc. acquired a new stake in Core Molding Technologies in the third quarter valued at approximately $2,689,000. Teton Advisors LLC acquired a new stake in Core Molding Technologies in the third quarter valued at approximately $1,744,000. 22NW LP boosted its position 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 valued at $4,577,000 after buying an additional 31,516 shares in the last quarter. Royce & Associates LP boosted its position in 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 buying an additional 34,188 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in 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 buying an additional 30,062 shares in the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Roth Mkm upped their target price 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Core Molding Technologies presently has a consensus rating of “Hold” and an average 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.